President Obama has made no secret of his wish to have every person in the country online. The most recent example? When he outlined his plan to expand high speed wireless Internet service to 98% of U.S. citizens in his budget. If it makes it through the current version, it could give even more luster to tech exchange traded funds (ETFs).
Jeff Mason for Yahoo Finance reports that this move could have some impact beyond that, too: it could cut the U.S. deficit by $9.6 billion over the next decade. [Tech ETFs and the Google-Apple Showdown.]
Obama is also for $10.7 billion to be invested in developing a wireless network to support public safety agencies. [ETFs and Apple- Why It Matters.]
There are a variety of ways to play it, but two of the most direct could be PowerShares Dynamic Networking (NYSEArca: PXQ) and iShares Goldman Sachs Network Fund (NYSEArca: IGN). Both funds are 100% allocated to U.S. companies that are likely going to have a major hand in building out these networks. PXQ has its holdings more evenly distributed, while IGN gives a heavier weight to its top four components, which account for more than 30% of the fund.
Tisha Guerrero contributed to this article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.