U.S. President Donald Trump on Wednesday urged Apple AAPL.O to scrap its diversity, equity and inclusion policies, a day after the iPhone maker's shareholders voted to keep them in the face of growing pushback from conservative groups.
Apple shares slumped 2% in morning trading.
Major U.S. companies, including Meta META.O and Alphabet GOOGL.O, have dropped DEI initiatives ahead of and after Trump's return to the U.S. presidency.
Trump has criticized corporate DEI programs as discriminatory and suggested the U.S. Department of Justice could investigate if such efforts violate the law.
"APPLE SHOULD GET RID OF DEI RULES, NOT JUST MAKE ADJUSTMENTS TO THEM. DEI WAS A HOAX THAT HAS BEEN VERY BAD FOR OUR COUNTRY. DEI IS GONE!!!" Trump wrote in a post on Truth Social.
Apple did not immediately respond to a request for comment.
Tuesday's vote at the iPhone maker's annual meeting was seen as a test of shareholder views about the value of DEI programs, which many companies added or beefed up starting in 2020 amid the Black Lives Matter movement.
Proponents of the proposal against DEI argued that recent legal changes meant Apple would see an increase in discrimination cases if it continued such policies.
Apple has said it had an active oversight effort to avoid legal risks and that the proposal inappropriately restricted management.
CEO Tim Cook said at Tuesday's meeting that Apple's "strength has always come from hiring the very best people and then providing a culture of collaboration, one where people with diverse backgrounds and perspectives come together to innovate".
But he also said, "As the legal landscape around these issues evolves, we may need to make some changes to comply, but our North Star of dignity and respect for everyone and our work to that end will never waver."
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