Monday, February 6, 2023
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.

In this article

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.

RELATED ARTICLES

Most Popular