Jim Cramer Sees Opportunity in Pessimism and Highlights These 12 Stocks

5. The Boeing Company (NYSE:BA)

Number of Hedge Fund holders: 103

Boeing Company (NYSE:BA) was mentioned in light of a report that China had halted deliveries of its aircraft as part of the ongoing trade tensions. Despite this, Cramer remained bullish, pointing to surging global demand and a five-year backlog as reasons not to worry. Here’s his analysis:

“No. I mean, look, I think that, first of all, you have to have these planes serviced by by GE, which means the relationship is not as bad as it sounds. Second, you know what? Pass those planes around. The demand for those planes is insane. Now, I know that there are a lot of stories, including a downgrade of Howmet today, which I thought was quite frankly, ill-advised, but David, there’s a shortage of planes, and someone couldn’t jump the queue and get those planes.

[On whether Boeing faces a risk from China] No, I mean, like, Kelly Ortberg should be out of here right now. He didn’t talk to, he wasn’t talking to Phil. I know that they’re a conservative company, but Kelly should be coming out right now and saying, you know what, we’re all set, guys. Do not worry about a thing. […]  If he would comment about the order book, I think we would all say, why are we selling the stock down five? […]

What can I say? They’ve got, like, five years worth of demand. I mean, one of the reasons why I liked Boeing last week when I talked about it was because they have tremendous demand.”