Boeing stock falls as 777X testing and 737 MAX stabilization drag on

Boeing Company (ISIN US0970231058) stock came under renewed pressure in mid-September, with the shares sliding about 5.7 percent to around USD 197.77 on September 16, 2026 after management flagged ongoing production and certification challenges across the 737 MAX and 777X programs at an investor conference.

Stock slides after candid production update

As Investing.com reported on September 16, 2026, Boeing shares fell 5.7 percent in afternoon trading to USD 197.77, reversing an opening near USD 211 after CEO Kelly Ortberg and the CFO spoke at the Morgan Stanley Laguna Conference and underscored unresolved production and certification challenges.

According to GuruFocus on September 16, 2026, Boeing shares declined roughly 6 percent that day, contributing to a 12.6 percent drop over the past month as investors reacted to management's comments that stabilizing 737 MAX production at 47 aircraft per month is taking longer than expected and that ramping to 52 jets monthly will follow only once stability is achieved.

777X testing likely to extend into 2027

The pressure on Boeing stock is compounded by delays on the widebody 777X program. As Livemint reported on September 17, 2026, Boeing indicated that 777X test flights are expected to spill into 2027, a shift that saw the shares fall as much as 6 percent intraday, the largest drop since October 2025, before trading about 5.3 percent lower at 3:11 p.m. in New York.

According to GuruFocus on September 16, 2026, Boeing executives told investors that 777X certification and flight testing remain broadly on schedule despite some delays in specific certification steps, and the company still aims to start deliveries in 2027, acknowledging that part of the testing campaign may extend into next year.

737 MAX output and union negotiations remain key risks

Beyond the widebody program, narrowbody 737 MAX output is central to Boeing's recovery story. As The Straits Times reported on September 17, 2026, CEO Kelly Ortberg said it is taking longer than expected to stabilize 737 MAX production at 47 aircraft per month, and the shares slid about 3.7 percent on a volatile Wall Street session after his remarks.

According to GuruFocus on September 16, 2026, Boeing currently targets a production rate of 47 units per month for the 737 MAX 7 but has not yet achieved full stability at that pace, and still aims later to ramp to 52 aircraft per month once supply chain and manufacturing issues are fully resolved.

Labor relations add another layer of risk. As The Air Current highlighted on September 17, 2026, Boeing is tightening spending as a crucial contract vote with the SPEEA engineering union approaches, with management keen to avoid a vote outcome that could lead to strike action and further disrupt production and certification timelines.

Recent orders support long-term backlog

Despite near-term volatility, Boeing continues to secure new aircraft orders that underpin its backlog. As Seoul Economic Daily reported on September 17, 2026, Korean Air placed an order for 103 Boeing jets in a deal valued at about USD 36.2 billion, a contract that materially strengthens Boeing's long-term order book and revenue visibility, even though several of the ordered aircraft types still await certification and carry delivery timing risks.

According to Yahoo Finance on September 17, 2026, Boeing also agreed to lease a 757-200PCF freighter to Jupiter Jet and signed a Letter of Intent with Afcom Holdings Limited for up to four 777-8F freighters, expanding its cargo portfolio and adding incremental demand for the 777X-based freighter variant.

Valuation and recent fundamentals in focus

Investors are weighing these operational challenges against Boeing's current valuation and cash flow prospects. According to GuruFocus on September 16, 2026, Boeing's price-to-sales ratio stands around 1.72, slightly below its historical median of approximately 1.8, and the proprietary GF Value metric estimates intrinsic value at USD 211.39 per share, about 4.5 to 6.1 percent above recent prices near USD 198 to USD 202 depending on the specific trading snapshot.

On the same day, GuruFocus noted Boeing's GF Score at 68 out of 100, reflecting moderate overall health with strengths in valuation and momentum but weaknesses in financial strength and profitability, underscoring that traditional earnings-based metrics like price-to-earnings remain less meaningful while the company is still unprofitable with negative free cash flow.

Recent commentary from Korean financial portals cited by Choicestock on September 17, 2026, points to consensus expectations that Boeing's revenue could reach about USD 98.0 billion in 2026, up roughly 9.6 percent from the prior year, with further expansion forecast to USD 112.8 billion in 2027 and USD 123.5 billion in 2028, while earnings per share are projected to turn from an expected loss in 2026 to around USD 4.83 in 2027 and USD 9.06 in 2028.

Boeing stock price and market context

Per a price snapshot on September 16, 2026 from Seeking Alpha, Boeing stock closed at USD 201.96 on the New York Stock Exchange, down USD 7.73 or 3.69 percent on the day, with a modest after-hours rebound to USD 202.68 reported at 7:59 p.m. Eastern Time.

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