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HometechnologyShares of Globalstar soar 64% on report iPhone 13 will use satellites...

Shares of Globalstar soar 64% on report iPhone 13 will use satellites directly

  • Shares of Globalstar, a satellite services provider, surged following a report that the newest iPhone will have the ability to utilize satellite communications.
  • The new iPhone is expected to launch this fall.

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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, closed up 64% on Monday following a report that the next iPhone will have the ability to utilize satellite communications.

TFI International Securities analyst Ming-Chi Kuo predicted in a note to investors 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.

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