10 Best Home Appliance Stocks to Buy According to Analysts

2. Viomi Technology Co., Ltd. (NASDAQ:VIOT)

Analyst Upside: 156.85%

Based in China, Viomi Technology Co., Ltd. (NASDAQ:VIOT) operates an IoT Home platform and sells IoT-fitted smart home products. These include its flagship line of water purification systems, smart kitchen products, and other offerings. The company also offers complementary consumable products such as water purifier filters, water quality meters, and water filter pitchers.

The company is increasingly employing AI to provide remote real-time water quality and usage monitoring. It is further enhancing user experience by offering timely filter replacement reminders, one-click reordering, and DIY replacement options that lead to higher filter replacement. As of the end of the first half of 2024, around 5.9 million users used the Viomi AI home water solutions.

Viomi Technology Co. Ltd. (NASDAQ:VIOT) holds a competitive market advantage due to the continuous technological breakthroughs it delivers. It developed the tankless large-flux water purifier that offers fresh drinking water 24/7. It also expanded the water purifier usage from drinking to cooking and other activities. In addition, the company implemented ERO technology to offer sustainable water quality ranging from pure water to natural mineral water. It also unveiled the Viomi Kunlun Mineral AI Water Purifier with an innovative mineralizing filter technology that enables the sustained release of beneficial minerals.

The company’s strategic growth plans for the coming future include strengthening collaborations with its strategic partners, increasing its water purification products and domestic marketing penetration, and actively expanding in key overseas markets. Viomi Technology Co. Ltd. (NASDAQ:VIOT) takes the second spot on our list.