Garmin dips after Bloomberg report on sattelite-enabled Apple Watch Ultra

Shares of Garmin (GRMN) are fractionally lower in afternoon trading after Bloomberg’s Mark Gurman reported earlier, citing sources, that Apple (AAPL) plans to bring satellite connections to its next Apple Watch Ultra in 2025, relying on satellites from Globalstar (GSAT). “The Apple Watch Ultra would be the first mainstream smartwatch with satellite abilities. The move also could give consumers less reason to use a standalone satellite communication device, such as Garmin Ltd.’s inReach,” Gurman stated.