Was Jim Cramer Right About Carrier Global Corporation (CARR)?

We recently published a list of 12 Stocks Jim Cramer Was Right About. In this article, we are going to take a look at where Carrier Global Corporation (NYSE:CARR) stands against other stocks that Jim Cramer discusses.

Back in 2024, on May 15, Mad Money’s Jim Cramer discussed the surprising strength of industrial spin-offs, singling out Carrier Global Corporation (NYSE:CARR) as the most successful of the three companies formed from United Technologies.

“But of the three former United Technology components, it’s Carrier Global that’s the biggest winner. This was a surprise, right? Stock’s up 3.95% since the breakup, gives you a total return of 42% including dividends. This heating, ventilation, and air conditioning business is now worth over $59 billion all by itself. Carrier’s just doing a great job thanks to the stewardship of Dave Gitlin. It reported a fantastic quarter last month, and I see more strength ahead thanks to the data center boom and a terrific acquisition they made over in Europe.”

His positive call was justified, with the stock rising 16.34% and validating its role in the data center boom.

An engineer wearing a hardhat inspecting a newly-installed air conditioner system.

Carrier Global Corporation (NYSE:CARR) is gaining traction thanks to surging demand for HVAC systems in data centers and climate-focused retrofits. Cramer remains a fan of the stock, especially as it reported a strong earnings report in Q1 2025. Here’s what he said in May:

“See that behind me? Carrier, that was good. . . it had Carrier a second ago. Yeah, David Gitlin did a really good job, a lot of people were doubting. Forget that, it’s the doubters are being silenced today.”

Overall, CARR ranks 11th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of CARR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CARR and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.