McDonald's Commanding Competitive Position Reinforced by Digital Investments, Value-Oriented Menu

As the leader in global food-service sales, McDonald's is taking adequate steps to adjust to an evolving competitive landscape, in our view, leveraging its scale to invest heavily in digital capabilities and menu innovation as it leans into its MCD strategic framework. While we expect a turbulent couple of quarters amid a soft macroeconomic environment, we're encouraged by management's vision for the business, which we believe should enable McDonald's to maintain its edge.