Defense and aerospace stocks are rallying hard after Trump announced a proposed $1.5 trillion military spending budget. On paper, looks like a win for the sector. But here's the thing—are investors getting too ahead of themselves?

Big fiscal outlays like this can definitely pump certain equities, no question. The numbers alone are impressive. Yet the real question investors should ask: will actual spending materialize as expected? Policy timelines slip. Budget negotiations drag on. And even if spending does ramp up, competition in the defense industry is brutal.

So yeah, the short-term momentum is real. Long-term thesis? That's where people need to get careful. Market euphoria can blind you to execution risk.