Reuters / Lucas Jackson
Shares of Globalstar popped as much as 68% on Monday amid ongoing speculation that its satellite-based technologies may be included in the upcoming iPhone 13.
According to MacRumors, citing an analyst note from Ming-Chi Kuo of TFI Securities, Apple may include technology in its upcoming iPhone launch that would enable users to make texts and calls without 4G or 5G cell service via low earth orbit satellites.
The LEO satellite communication service provider that is "most likely to cooperate with Apple in terms of technology and service coverage" is Globalstar, Kuo reportedly said, adding that Qualcomm has apparently been working with Globalstar on the technology.
Kuo said Apple is "optimistic" about the ongoing trend of satellite communications and set up its own internal team a couple of years ago to research and develop relevant technologies for potential inclusion in its future devices.
SpaceX has accelerated the ongoing trend of LEO satellite communications with the lauch of its Starlink, which provides fast internet services to those in rural areas where fiber & cable based internet services are unavailable.
The "simplest scenario" for iPhone devices to offer the ability to connect with satellites is if individual network operators work with Globalstar to offer the service as an add-on, according to Kuo.
Monday's gains helped Globalstar deliver a year-to-date return of more than 600%, but the stock is still 33% below its high reached in mid-February.
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