Boeing (BA) reported a big number last week, supporting my view that the current sales cycle is going to be long and strong. Everything was supersonic at the company, with margins, sales, earnings and cash flow all higher, and the company also lifted guidance. The second-quarter earnings per share of $1.35 blew away the $1.14 consensus estimate, which means this huge company saw earnings up a whopping 39% over the same quarter last year. Revenue was up 14% as well, which means the higher earnings was not just a financial trick. I feel comfortable with forecasting as much as $6.06 in earnings for 2008, which is above expectations. The only quibble that you heard from some analysts was a $500 million lift in research and development forecasts to $3.3 billion. In the past, more money for R&D has meant that the company was having trouble with a new program and needed to apply more engineers to the problem. Skeptics said that they believe it meant Boeing would not make its deadline for its first flight of the new 787 Dreamliner, but I think that is not a likely scenario. In fact, the company has so much good will from investors at this point that even if the schedule slipped a month, I don't think you'll hear a lot of complaints.