Shares of Globalstar soar 50% on rumor iPhone 13 will use satellites directly
A consumer walks previous an advert for Apple’s iPhone 12 exterior a retailer in Hong Kong on May 24, 2021.
A consumer walks previous an advert for Apple’s iPhone 12 exterior a retailer in Hong Kong on May 24, 2021.
Budrul Chukrut | SOPA Images | LightRocket | Getty Images
Shares of Globalstar, a satellite tv for pc companies supplier, soared greater than 50% Monday following a report that the subsequent iPhone will have the flexibility to make the most of satellite tv for pc communications.
TFI Securities analyst Ming-Chi Kuo predicted in a be aware to buyers Sunday that Apple is “optimistic concerning the pattern of satellite tv for pc communications” and “will possible” embody the flexibility to hook up with extraterrestrial networks in its upcoming iPhone.
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The new iPhone is predicted to launch this fall. Apple has not introduced any particulars on the system but. The telephone does not have an official identify, however many are referring to because the iPhone 13 for now.
Kuo mentioned that Globalstar is most definitely to companion with Apple. The firm has an present satellite tv for pc telephone community of 24 satellites in low Earth orbit.
“If Apple permits the related software program features, iPhone 13 customers can name and ship messages by way of satellite tv for pc when not inside 4G/5G protection,” Kuo wrote.
Globalstar didn’t instantly reply to request for remark on the Kuo be aware.
— CNBC’s Michael Sheetz contributed to this report.
