Shares of Globalstar soar 60% on rumor 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

Manual vs. SSPM: Research on What Streamlines SaaS Security Detection & Remediation
NASA Puts Pysche Mission on Hold, Blames Late Delivery of Navigation Software
US Senators Seek Report on Security Review of TikTok a Week After Data Transferred to Oracle
ISRO’s GSAT-24 Successfully Launched On-Board Ariane-v VA257 Flight From French Guiana
IPod Inventor Tony Fadell: ‘M1 Macs Are Absolute Innovation’

Leave a Reply

Your email address will not be published.