I think it’s about time to retire the Magnificent Seven and FAANG acronyms as the AI-driven rally looks to exhaust itself and more grow concerned about valuations. For investors looking for a new cohort of stocks with potentially better prices of admission, Europe may be the place to look. This led us to create this list of GRANOLAS stocks to buy.

The new GRANOLAS acronym is pretty intriguing. Furthermore, though not all of the constituents have outperformed the markets lately, I do think that some of the leaders within the group are worth looking into for those who are tired of the United States growth leaders, some of which may be lacking in value.

Let’s examine three of the most exciting plays within Europe’s sought-after GRANOLAS group. Then, you can decide for yourself whether the European market hosts more intriguing plays as investors look to broaden their portfolios beyond America’s top tech darlings.

ASML (ASML)

I find ASML (NASDAQ:ASML) to be by far the most exciting company in the GRANOLAS group. For those unfamiliar with the firm, it manufactures some of the world’s most advanced extreme ultraviolet (EUV) lithography machines. Such systems are absolutely critical in the early innings of chip super-cycles.

As demand for AI chips—the latest Blackwell B200 chip from Nvidia (NASDAQ:NVDA) could mark the next leg of the AI boom—continues rocketing higher, ASML stands to gain as more fabricators ramp up their production capacity. With its monopolistic market positioning in EUV lithography, ASML has the unique ability to call the shots.

Undoubtedly, the firm provides a unique type of exposure to the semiconductor industry and one that’s worth venturing into Europe for. At just shy of 44 times trailing price-to-earnings (P/E), ASML stock appears way too cheap given the magnitude of tailwinds facing the overall semiconductor market right now.

Novo Nordisk (NVO)

Novo Nordisk (NYSE:NVO) is another one of Europe’s finest companies. The stock has risen more than 82% over the past year thanks to increased hype surrounding GLP-1 weight-loss drugs. You’ve probably heard about the enormous market potential of Ozempic and Wegovy in combating obesity.

The company has been investing heavily in its manufacturing capabilities to bring more Ozempic and Wegovy to market. Indeed, the two breakthrough drugs could produce many years of incredible earnings for the firm. But don’t count on Novo Nordisk to stay flat-footed. It has a packed pipeline that may very well yield further blockbusters in the future.

More recently, the firm shed some light on its incredibly impressive weight-loss pill, amycretin. Though still in the early stages of clinical trials, one can’t help but be intrigued by CEO Lars Fruergaard Jorgensen’s encouraging commentary as the firm pushes beyond Ozempic and Wegovy injectables.

Though I like where the firm is headed, investors should be somewhat cautious of the extended valuation (48.3 times trailing P/E isn’t cheap) and have a plan to potentially add to a position should a pullback hit.

LVMH (LVMUY)

LVMH (OTC:LVMUY) is another best-in-class European company that stands out in the GRANOLAS batch. For those looking for more of a lower-tech way to grow their wealth over time, LVMH looks nothing short of intriguing as it looks to meet the re-accelerating demand for luxury goods.

Indeed, high-end brands blasted off during pandemic lockdowns (2020-21), only to face more challenging comparables in 2022. With shares back in rally mode, though, investors may wish to catch a ride back on the high-end retail play while it’s trading for just 27.2 times trailing P/E.

Last year, LVMH’s selective retailing segment grew organic revenue by a whopping 25%, thanks a great deal to Sephora, which could continue breaking records in the new year, given its appeal to younger consumers.

At these levels, LVMH stock looks way too cheap when you consider the enviable brand lineup, which has held up rather well in a headwind-filled environment.

It’s hard to believe, but Louis Vuitton, Dior, and Fendi may sell better after a few price hikes. After all, higher prices mean more exclusivity and status when it comes to high-end goods. If you are looking for the top GRANOLAS stocks, start with this one.

On the date of publication, Joey Frenette did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.