After hearing the very jarring forecast that Boeing gave on Wednesday, Jim Cramer could only conclude that the aerospace group has peaked.
"That doesn't mean the companies involved in the space are necessarily dead," the "Mad Money" host said.
For example, United Technologies reported a solid quarter and Cramer was astonished with how strong its aircraft engine business was. That could be attributed the success to its new geared turbo fan.
Cramer interpreted the weaker forecast from Boeing as an indication that airlines no longer require as many airplanes as originally thought. This could stem from several factors: perhaps leasing companies that buy the planes have stopped purchasing for an unknown reason, or perhaps the Chinese are rethinking demand or are out of money to buy them.
"Perhaps the problem is more Boeing than we think," Cramer said. (Tweet This)