Reuters / Lucas Jackson
Globalstar rose as high as 68% Monday, amid speculations that its technology would be included in the new iPhone 13.
Ming-Chi Kuo's analyst note states that Globalstar's technology will allow iPhone users to send and receive texts and calls without the need for 4G or 5G service.
Subscribe to our daily newsletter 10 Things Before The Opening Bell.
Globalstar shares rose as high as 68% Monday, amid speculations that satellite-based technologies from Globalstar may be part of the new iPhone 13.
MacRumors reports that Apple could include technology in its forthcoming iPhone launch, according to an analyst note by Ming-Chi Kuo at TFI Securities. This would allow users to send and receive texts and phone calls via low earth orbit satellites.
Kuo claimed that Globalstar is the LEO satellite communication provider most likely to work with Apple in terms technology and coverage. Kuo also stated that Qualcomm had been working with Globalstar regarding the technology.
Kuo stated that Apple is optimistic about satellite communications. Apple established its own internal research team to develop and test relevant technologies for future products a few years back.
SpaceX has made it easier to continue the trend of LEO satellite communications by launching Starlink, which offers fast internet services for rural areas that are not available via fiber or cable.
Kuo says that the "simplest" scenario for iPhones to be able to connect to satellites is when individual network operators partner with Globalstar.
Globalstar's Monday gains enabled it to deliver a year-to date return of over 600%. However, the stock remains 33% below the high it reached in February.
