A new survey gives a window into how IT managers plan to use their budgets next year -- and which big vendors could benefit.
The survey, conducted by Flexera, asked a group of 303 tech executives at companies with more than 2,000 employees about their budgets and vendor breakdowns for 2020.
Overall, a majority of respondents (56%) said they planned to increase IT spend next year.
Of the vendors the respondents currently use, 25% said they planned to cut spending on IBM (IBM) - Get International Business Machines (IBM) Report services, while 19% said they planned to increase it. IBM-owned Red Hat, which makes open-source software for enterprises, got a more favorable response, with 27% of respondents planning to increase spending and 11% planning to decrease.
Overall, Amazon's (AMZN) - Get Amazon.com, Inc. Report AWS and Microsoft (MSFT) - Get Microsoft Corporation (MSFT) Report were the most favorable in terms of 2020 budget planning: 65% of respondents said they would raise spending on AWS, and 56% said they would increase spending on Microsoft services.
IBM is due to report its latest financial results on Oct. 16 after the bell.
Microsoft and Amazon are key holdings in Jim Cramer's Action Alerts PLUS charitable trust.