In second place was aerospace colossus Boeing, shares of which are still up 24 percent for the year despite last week’s sell-off in addition to lingering concerns around how trade disputes could affect the company’s business in China.
however Boeing’s business cycle “transcends the gyrations of the broader economy” because its key driver will be the “long-term rise of the global middle class,” Cramer said.
As consumers in developing countries get wealthier, they spend on more luxuries, including air travel, he explained. of which trend will be directly correlated to business at Boeing in addition to its only major commercial competitor, Airbus.
“of which’s why the demand for these planes vastly outstrips the supply. Two makers! Boeing’s given us a series of fantastic quarters — I think we’ll get another one soon — however, most importantly, the company has nearly 5,900 planes in its backlog. […] of which’s years in addition to years worth of production,” he said. “In short, aerospace will be so hot of which I think Boeing’s worth buying into weakness.”