Aug 30, 2021 (StockMarket.com via COMTEX) -- 5 Top Satellite Stocks To Watch Ahead Of September 2021
As we begin another trading week, satellite stocks appear to be in focus in the stock market now. For the most part, this would be thanks to some major news regarding consumer tech company Apple ( NASDAQ: AAPL ). Namely, reports suggest that Apple is currently working with satellite service provider Globalstar ( NYSE: GSAT ) to bolster its upcoming iPhone 13 lineup. According to a report from AppleInsider, the iPhone 13 will reportedly boast satellite communications capabilities. As a result, GSAT stock now trades at $2.35 as of Monday's closing bell after gaining by over 64% during Monday's trading session.
Now, while investors and consumers alike await the arrival of the iPhone 13, one thing is apparent. In theory, the use of satellite tech in today's smartphones would provide a new dimension of communication for the general public. Simply put, satellite-enabled phones would be able to make calls and send messages even when not within 4G/5G coverage. Moreover, even mobile carriers like Verizon ( NYSE: VZ ) could also stand to gain from such trends. With all the attention on this sector of the tech world now, I could see investors keen to jump on the top satellite stocks . Should you be one of them, here are five to note in the stock market today .
Top Satellite Stocks To Buy [Or Sell] Before September 2021
Iridium Communications ( NASDAQ: IRDM )
Boeing Company ( NYSE: BA )
Maxar Technologies Inc. ( NYSE: MAXR )
Northrop Grumman Corporation ( NYSE: NOC )
Gilat Satellite Networks ( NASDAQ: GILT )
Iridium Communications Inc.
First, on this list, we have Iridium Communications. The company essentially operates its Iridium satellite constellation to connect people and devices all over the world. Together with its ecosystem of partner companies, the company delivers a rich portfolio of reliable communications services for millions all over the world.
In early August, the company announced that Japan's Ministry of Internal Affairs and Communications has approved regulatory amendments necessary to allow for Japanese adoption of Iridium Certus broadband and other aeronautical services for aviation. Iridium Certus is the world's most advanced L-band broadband solution, offering small-form-factor and cost-effective terminals.
In July, the company also reported its second-quarter financial. Most notably, it posted a record subscriber growth at over 1.6 million, growing by 19% year-over-year. Total revenue for the quarter was $149.9 million. With that being said, will you consider adding IRDM stock to your portfolio?
The Boeing Company.
Next on this list, we have Boeing, a multinational company that designs and sells satellites, airplanes, and other telecommunications equipment. Its customers span over 150 countries and it serves a wide range of industries that include launch systems, communications systems, military and commercial aircrafts among others. BA stock currently trades at $218.45 as of 11:04 a.m. ET and is up by over 25% in the past year.