BA > $103B

Boeing has fucked up a lot in recent years. Plane crashes. Astronauts stranded. It also faces stiff competition now from SpaceX. Yet, it remains one of the most important companies in the world, especially if we (as humans) want the luxuries of travel.

Year to date, the stock is down 33%. Frankly, it could be down even more considering the damage those recent events have had on its reputation. The firm has a new CEO, Kelly Ortberg, and judging from his LinkedIn profile (big analysis over here) he’s an engineer not just a capital allocator. That’s good news.

Even if Boeing’s stock drops further — remember winter is coming — the long-term value priced in USD should be much higher than $103B.