Shares of Globalstar soar 40% on report iPhone 13 will use satellites directly


A shopper walks past an ad for Apple’s iPhone 12 outside a store in Hong Kong on May 24, 2021.
Budrul Chukrut | SOPA Images | LightRocket | Getty Images

Shares of Globalstar, a satellite services provider, soared 60% Monday following a report that the next iPhone will have the ability to utilize satellite communications.

TFI Securities analyst Ming-Chi Kuo predicted in a note to investors on Sunday that Apple is “optimistic about the trend of satellite communications” and “will likely” include the ability to connect to extraterrestrial networks in its upcoming iPhone.

The new iPhone is expected to launch this fall. Apple has not announced any details on the device yet. The phone doesn’t have an official name, but many are referring to as the iPhone 13 for now.

“If Apple enables the relevant software functions, iPhone 13 users can call and send messages via satellite when not within 4G/5G coverage,” Kuo wrote.

Subscribe to CNBC on YouTube.

Products You May Like

Articles You May Like

Alibaba expands cloud business abroad with new data centers in Asia, stepping up rivalry with Amazon
Awesomely Weird Alibaba Electric Vehicle of the Week: This 12-seater ‘vintage’ electric car
Countries of the Indo-Gangetic Plain must unite against air pollution
Wärtsilä Report Urges 100% Renewables Sooner, Uruguay Proves It Can Happen Now
Tesla posts record earnings but on one stock market number Elon Musk’s EV company is still disappointing

Leave a Reply

Your email address will not be published. Required fields are marked *