Investing.com – Globalstar stock (NYSE:GSAT) climbed 50% Monday on a report in AppleInsider that Apple (NASDAQ:AAPL) iPhone 13, likely to be showcased at the company’s annual fall event, could feature a capacity to utilize satellite communications.
According to a note by analyst Ming-Chi Kuo that AppleInsider quoted, the Qualcomm (NASDAQ:QCOM) X60 baseband chip that Apple is likely to use in the iPhone 13 will support low-earth orbit satellite communications.
Kuo is an analyst at TF International Securities, a financial services group in the Asia-Pacific region. He is respected for his insights on Apple and the likely changes in the company’s product line-up. He gathers intelligence from the numerous Apple suppliers and vendors.
Qualcomm's work with Globalstar led Kuo to forecast the development.
"The simplest scenario is that if the user's operator has already teamed with Globalstar, the user can directly use Globalstar's satellite communication service on the iPhone 13 through the operator's service," Kuo wrote, according to AppleInsider.