We just published a list of the 10 Best Dow Stocks to Buy for 2027 and Boeing (NYSE: BA ) ranked 6th on this list.
Yahoo Finance reported on November 5 that the Dow Jones Industrial Average tumbled 3.4%, or more than 1,800 points, while the S&P 500 fell 4.4% and the Nasdaq Composite sank 5.5% into correction territory. Chip stocks took the brunt of the damage, with AI chip designers and memory makers among the hardest hit. The slide erased the gains from a day earlier, when the Dow had jumped 3% for its best session of 2026 after Democrats won control of both chambers of Congress, Yahoo Finance wrote on November 4. By mid-session Thursday, the index was heading for its worst second day after a midterm election in data going back to 1896, the outlet noted.
The Dow's Safe-Haven Run Cracks
For most of the week, the Dow had looked like the sheltered corner of the market. Yahoo Finance reported on November 2 that the Dow edged up 0.4% while the Nasdaq dropped roughly 1% as investors rotated out of technology names and into consumer cyclical and financial services shares, which left the Dow looking like the market's relative winner. On Thursday, that cushion gave way, as the focus turned to what a Democratic Congress could mean for the AI buildout, and for the data centers driving it in particular. You might also be interested in reading our piece on how the AI chip leader's growth compares with the cloud software giant's .
The reversal was fast and violent. Shay Boloor, chief market strategist at an equity research firm, pointed out that the VIX volatility index posted its biggest one-day jump in more than two years. It took the Nasdaq just six minutes on Thursday to erase its entire post-election rally, and even Wednesday's winners such as the iPhone maker turned lower. That Wednesday buying had been helped by falling oil prices, while the Windows maker jumped 6% to a record high.
A Jobs Report Steadies the Tape
Friday brought a partial rebound. Yahoo Finance reported on November 6 that the US added 165,000 jobs in October, and the Nasdaq gained 1.9% while the S&P 500 rose 1% and the Dow added 0.1%. For a closer look at one of the biggest AI spenders caught in the sell-off, we recently covered why the search giant's low price-to-earnings ratio can mislead . The stronger jobs data lifted Treasury yields and kept Federal Reserve policy at the center of market attention, Reuters reported on November 6, as the price-weighted index of 30 major US companies held roughly flat.
Boeing made the list with an average upside potential of 32%, based on analysts' average price target. It has short interest of 1.85% and had 90 hedge fund holders in Q2 2026.
Boeing's case rests on a backlog that now covers years of output. The planemaker ended the third quarter with a record $745 billion of orders, and it delivered 161 jets in the quarter, its best showing since 2018. Defense backlog also set a record, and Global Services, the parts and maintenance arm, posted double-digit margins, which adds steadier income alongside the cyclical aircraft business.
Regulatory and defense wins are filling in the story. The Federal Aviation Administration granted amended type certification to both the 737-7 and the 737-10, and the US Navy selected Boeing to design and build its F/A-XX next-generation fighter. That award is not yet counted in the backlog, so it represents additional visibility still to come.
Cash is the next proof point. Management laid out free cash flow targets that step up each year to $10 billion in 2029, and said a record backlog with improved pricing should underpin an improving margin profile. Executives also described the range of outcomes for the business as narrowing, which they said gave them the confidence to publish a multi-year plan.
Learn more from our analysis on Boeing (NYSE:BA) here: A $715B Order Book and Fighter Jet Wins: Time to Buy Boeing (BA)?
While we acknowledge the potential of BA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock .
READ NEXT: Nvidia Is Becoming More Than a Chipmaker. Can it Sustain Its Exceptional Margins? and Amazon vs. Alphabet: Is GOOGL's Cloud Growth Being Undervalued?
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