Boeing Shares Plunge Amid Delays and China Deal Uncertainty

Boeing's stock price continues to plummet, falling to $198 on Friday, its lowest level since March. The decline marks a 22% drop from the year-to-date high.

The company faces numerous challenges, including a delayed certification of its 777X jet due to engine issues and a wing problem that may slow production rate increases for the MAX model.

Boeing's acquisition of Spirit AeroSystems has also led to significant losses. However, the upcoming meeting between US President Donald Trump and Chinese leader Xi Jinping in Washington may bring new opportunities for Boeing.

The two leaders are expected to discuss China's purchase of 200 Boeing jets announced in May, which was lower than the 500 units analysts had anticipated. Beijing has requested guarantees on long-term engine part supply, while the White House maintains that post-sale maintenance is not included in the deal.

Despite these challenges, Boeing's revenue grew by 8% to $24.5 billion in the second quarter and 11% to $46 billion for the first half of the year, driven by higher deliveries and prices.