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Activists Target Apple to NetApp Preying on Aging Tech Industry

Activist investors are targeting companies from NetApp Inc. to Apple Inc., preying on an aging U.S. technology industry.

Data-storage company NetApp, under pressure from Elliott Management Corp. to boost shareholder value, said this week it’s cutting jobs and returning cash through stock buybacks and dividends. Dell Inc., the target of the biggest technology takeover this year, is now in Carl Icahn’s sights as well after the billionaire investor deemed the offer price too low. Even iconic Apple boosted its stock buybacks last month following the urgings of hedge-fund manager David Einhorn.