Globalstar stock rockets after report says Apple could add satellite communications to next iPhone

Dow Jones2021-08-30

MW Globalstar stock rockets after report says Apple could add satellite communications to next iPhone

Shares of Globalstar Inc. $(GSAT)$ are up 49% in Monday morning trading after a report indicated that Apple Inc. $(AAPL)$may be looking to add satellite communications to its next iPhone and could work with Globalstar to do so. MacRumors cites a report from analyst Ming-Chi Kuo saying that Apple's iPhone 13 will offer low-earth orbit $(LEO)$ satellite communications that will let users send messages or make calls even if they don't have 4G or 5G cellular connections. The iPhone 13 will have a custom Qualcomm Inc. $(QCOM)$ chip that supports satellite communications, per the report. Globalstar declined to comment on the report. Apple didn't immediately respond to MarketWatch's request for comment. Globalstar shares have increased 530% over the past 12 months as the S&P 500 has risen 29%.

-Emily Bary

 

$(END)$ Dow Jones Newswires

August 30, 2021 10:39 ET (14:39 GMT)

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Comments

  • Tansri
    2021-08-30
    Tansri
    It’s a plus features over its competitors. If this true, there are ppl might switch to iPhone as they no longer need 4G network to communicate when they go into wilderness. 
  • Felibhai
    2021-08-30
    Felibhai
    Finally
  • Darius88
    2021-08-30
    Darius88
    Does it’s price justify the news?
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