Why did Globalstar's stock decline today? Musk is caught up with iPhones.

Only Elon Musk could capitalise on the attention around Apple's (AAPL) new iPhone 14.

Musk claimed that his SpaceX (SPACE) and Apple (AAPL) held discussions about ideas for bringing satellite service to iPhones using SpaceX's Starlink satellite constellation one day after Apple (AAPL) unveiled the most recent version of its iconic iPhone, complete with satellite emergency service communication technology.

"With Apple, we've had some positive discussions concerning Starlink connectivity. Obviously, the iPhone team is quite smart "Posted in a tweet by Musk.

Globalstar (NYSE:GSAT) has announced that it is the partner enabling Apple's emergency service, which will allow customers to send SOS messages via satellite while away from cellular and Wi-Fi connections, as part of the iPhone 14 release event.

On Thursday, Musk added, "There's no doubt that the closing link from space to phone will operate best if phone software & hardware adapt to space-based signals vs. Starlink just replicating cell tower.

After rising by as much as 38% during the trading session on Wednesday, shares of Globalstar (GSAT) started to decline before the day's end, and the stock fell by about 19% on Thursday.

The service provided by Globalstar (GSAT) appears to be only intended for emergency situations, comparable to one offered by Garmin (NYSE:GRMN). Meanwhile, shares of AST SpaceMobile (NASDAQ:ASTS), which is investigating direct connections between satellites and regular mobile devices, fell by about 7% on Wednesday and by another 2.3% on Thursday.

According to several observers, Apple (AAPL) has prepared itself for a successful holiday season among consumers with its new iPhone 14 series.