Why Globalstar (GSAT) Shares Are Trading Higher Today - Apple (NASDAQ:AAPL), Globalstar (AMEX:GSAT)

Apple Inc AAPL committed $450 million of its Advanced Manufacturing Fund to support the critical infrastructure powering Emergency SOS via satellite, the groundbreaking safety capability for the iPhone 14 lineup.
Available to customers in the U.S. and Canada shortly, the new service will allow iPhone 14 and iPhone 14 Pro models to connect directly to a satellite, enabling messaging with emergency services when outside of cellular and Wi-Fi coverage.
Most of the funding goes to Globalstar, Inc GSAT, a global satellite service that provides critical enhancements to Globalstar's satellite network and ground stations, ensuring iPhone 14 users can connect to emergency services when off the grid.
Also Read: Apple iPhone 14's Emergency SOS Satellite Connectivity Feature Runs On Qualcomm Chips And More
At Globalstar, more than 300 employees support the new service.
In part, Apple's capital infusion will fund the installation of new custom-designed antennas manufactured by California-based company Cobham Satcom, TechCrunch reports.
Designed to receive signals transmitted by Globalstar's satellite constellation, the antennas are ready in the satellite provider's existing ground stations, including Nevada, Hawaii, Texas, Alaska, Florida, and Puerto Rico facilities.
Emergency SOS will remain free for two years to Phone 14 and iPhone 14 Pro owners when it goes live in late November in the U.S. and Canada. But Apple might charge for it after that.
Price Action: GSAT shares traded higher by 4.59% at $4.94 on the last check Thursday.

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Apple Earmarks $450M For iPhone 14's Satellite Emergency SOS