Why Boeing Shares Are Down Today
Shares of Boeing (NYSE: BA) traded down more than 5% on Friday morning, joining the broader coronavirus-fueled market sell-off. Airline stocks have been clobbered particularly hard this week, and a prolonged downturn for airlines could eat into demand for new airplanes.
Boeing has a sprawling portfolio of defense and commercial assets, but in recent years the primary driver of revenue and profits has been its commercial aviation business. The global airline industry is in the midst of a decade-long fleet refresh, and Boeing and Airbus have been the primary beneficiaries of that buying spree.
Boeing's 787-10 Dreamliner. Image source: Boeing.
Source Fool.com
