Globalstar Shares Explode After Apple’s iPhone 13 is Rumored to Have This on It

According to a CNBC report, tech giant Apple’s newest phone may have satellite phone connectivity.

Shares of Globalstar, a satellite services provider, soared 64% on Monday on the report that the iPhone 13 will use satellite communications directly.

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

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

According to Kuo, Globalstar is most likely to partner with Apple. The company has an existing satellite phone network of 24 satellites in low Earth orbit.

“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.

Bloomberg also reported on Monday that the iPhone’s satellite functionality will be limited to emergency uses, such as sending short texts to a pre-set list of contacts when no cell signal is available, citing a person familiar with the feature.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.