Shares of Globalstar Inc. (GSAT) are up 49% in Monday morning trading after a report indicated that Apple Inc. (AAPL)may be looking to add satellite communications to its next iPhone and could work with Globalstar to do so. MacRumors cites a report from analyst Ming-Chi Kuo saying that Apple's iPhone 13 will offer low-earth orbit (LEO) satellite communications that will let users send messages or make calls even if they don't have 4G or 5G cellular connections. The iPhone 13 will have a custom Qualcomm Inc. (QCOM) chip that supports satellite communications, per the report. Globalstar declined to comment on the report. Apple didn't immediately respond to MarketWatch's request for comment. Globalstar shares have increased 530% over the past 12 months as the S&P 500 has risen 29%.
(END) Dow Jones Newswires
August 30, 2021 10:39 ET (14:39 GMT)
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