On July 2, Johnson Controls rose 3.12% in regular trading, trading at $151.145/share with turnover of $412 million, extending gains from the prior session's 4.27% rally.

On the news front, the global HVAC sector continues to benefit from dual tailwinds of extreme heat events and surging AI data center cooling demand. Multiple regions across Europe have issued red heat warnings, highlighting significant upside potential for air conditioning penetration rates. Meanwhile, high-density liquid cooling demand from data centers is intensifying. Johnson Controls has strategically positioned itself in the AI infrastructure space through its completed acquisition of Alloy Enterprises, which specializes in thermal management platforms for data centers, and a production agreement with Armada for modular data centers at a dedicated Arizona facility expected to create over 500 jobs.

Fundamentally, the company reported fiscal Q2 sales of $6.14 billion, exceeding Wall Street expectations of $6.08 billion, supported by record backlog of $18.2 billion driven by data center order growth. Multiple analysts maintain overweight ratings with raised price targets.

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