The aircraft maker received orders for a total of 342 jets at the Dubai Air Show. That's $100 billion and twice the amount received by archrival, France's Airbus. Emirates Airline was responsible for half of the purchases in dollar terms, buying 150 variants of the 777X model.
Dow Jones Industrial Average component Boeing has had a great run so far this year. And, in the past twelve months, its shares have double.
(Watch: Cramer: Boeing best performer in Dow)
Meanwhile, the next few years will likely see a growth in revenue for Boeing. The company still has a significant amount of backlog, notes CNBC contributor Gina Sanchez, founder of Chantico Global.
"Boeing is making planes at a rate of about 1.7 per day," says Sanchez. "If you take their backlog and do the math, it's basically seven and a half years it would take for them to work off their backlog."
Its big selling point, according to Sanchez, is what Boeing's new planes can do for airlines, particularly when it comes to fuel efficiency.
"Boeing is basically making it cheaper for the airline industry to rationalize its operating costs," says Sanchez. "That's massive and I think there's something to that."
Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson, is also bullish on the company.
"This is the best performing stock in the Dow, up over 80% year-to-date," says Ross. "A bullish call here is not an early call, but it might actually be the correct call."
Ross sees another $40 more in price for the stock ahead. "In the short-term, you might not want to chase the stock and push all in given the magnitude of the advance," says Ross. "But, I like what I see here in terms of the momentum and also in terms of fundamental catalysts."
To see the rest of the analyses by Sanchez and Ross and to hear the detailed reasons why they're bullish on Boeing, watch the video above.
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