A report just crossed the wire showing that GDP grew at 2.4% in Q2, despite a litany of reasons the bears insisted would result in the end of the financial universe as we know it. Meanwhile, the Dow has been on a run for the record books. What an incredibly exciting time to be an investor – and to focus on stocks like McDonald’s (MCD), writes Keith Fitz-Gerald, editor of 5 with Fitz.
I said recently during an appearance on Varney & Co. that I thought MCD would be a “sleeper,” and yesterday’s earnings report suggests I was on point. Uncle Ronald beat top- and bottom-line estimates for Q2.
Reports attributed the beat to the return of Grimace, a much-loved mascot from a bygone era, and a resurgence of sales in China. But the real jump going forward—and what you’ll want to focus on—will be continued international growth, ongoing restructuring, and, of course, margin-boosting tech.
Meanwhile, I gotta give Zuck props. As much as I dislike his style and Meta Platforms (META) as a company, he’s pulled yet another rabbit out of the hat and posted strong numbers as digital advertising revenues have returned.
Good thing. The latest results are taking the heat off the mess that was the Metaverse. I’m concerned, though, that CFO Susan Li says the positivity comes from Chinese companies and online retailers, which in many cases, I have heard anecdotally, are one and the same.
Bottom line? Anybody playing on the edges is just bait for the big money. Buy the best, ignore the rest.
As always, MAKE it a great day!