McDonald's (MCD) stock makes for a reliable investment that is likely to keep producing positive shareholder returns for decades to come. However, precisely because investors have flocked to the stock's relatively more secure investment case lately, McDonald's valuation has reached rather elevated levels. For this reason, I am neutral on the stock. McDonald's Corporation doesn't really need an introduction. It's relatively safe to assume that most people have had a burger in one of the McDonald's restaurants at some point in their lifetimes. The company has active operations in 119 countries, with around 37,552 of its 40,344 restaurants being franchised, representing roughly 93% of the company's total locations.
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