Biden’s defense budget boosts tech spending, analysts say (NYSE:LMT)

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President Biden’s proposed defense budget for the next fiscal year is likely to benefit technology suppliers amid spending constrains imposed by Congress, according to defense-industry analysts at several financial-services firms.

Within the request for a 1% increase to about $850 billion, the Pentagon foresees personnel and maintenance costs “squeezing out modernization spending,” Matthew Akers, analyst at Wells Fargo, said in a March 11 report.

More on Boeing, Booz Allen, etc.

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