Otis Worldwide Corporation (OTIS) has a lot of Chinese income, says Jim Cramer

Recently released Jim Kramer of 10 shares spoke as everyone said they won Trump’s Japanese trade.. Otis Worldwide Corporation (NYSE: OTIS) is one of the stocks Jim Kramer has recently discussed.

Otis Worldwide Corporation (NYSE: OTIS) is a specialized industrial equipment company that handles elevators, escalators and related products. The stock lost 3% since the start of the year, mainly due to a sharp 12.3% decline in July. Stocks fell as Otis Worldwide Corporation (NYSE:OTIS) second quarter revenue results resulted in a revenue analyst estimate of $3.61 billion to $3.71 billion. Furthermore, the company’s new equipment business saw sales fall by 20% in China. Cramer quotes the CEO of Otis Worldwide Corporation (NYSE:OTIS), saying the business remains strong.

“Otis, I’m yeah, Judy Marks will make crazy money, and she did great things and they had a lot of service revenue including China. She told you many times and many times. That business was a very tough hit. It was a very difficult hit.

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In 2024, Cramer claimed that Otis Worldwide Corporation (NYSE: OTIS) could overcome China’s weakness due to its presence in the repair and renovation market.

“Otis Worldwide rose 121% – thank you, Judy Marks – gives a total revenue of 134%, including dividends. The elevator business is now worth almost $40 billion. We’re now repairing them.”

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Read next: 30 stocks that double in three years and 11 Hidden AI Strains Buy Now.

Disclosure: None. This article was originally published Insider Monkey.