Apple (AAPL) has endorsed the $11.6B acquisition of Globalstar (GSAT) by Amazon (AMZN), noting that it has a “proven track record” with Amazon infrastructure, Bloomberg’s Mark Gurman reports. Apple will get a partner in satellite communications, helping the company expand its offerings in the market, and Amazon’s Leo satellite system will support Apple’s emergency messaging service, Gurman says, noting that the deal will give Apple access to an expanding constellation, helping its in-house services better compete. “We look forward to building on that collaboration with Amazon Leo,” Apple marketing chief Greg Joswiak said in a statement. Apple holds a roughly 20% stake in Globalstar.
Claim 55% Off TipRanks
New trading tool for AMZN bullsPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- The “Apple Pay” Moment for Web3: Mixin Integrates Coinbase to Make Fiat-to-Crypto Faster Than a Text Message
- Top BofA Analyst Raises Apple Stock (AAPL) Price Target Ahead of Q2 Earnings
- Google (GOOGL) Launches Gemini App for Mac with New AI Features
- Best ETFs to Invest In, According to AI Analyst, 4/15/2026
- TSMC Will Report Q1 Earnings Tomorrow. Options Traders Expect a 4.39% Move in TSM Stock