While the broader market is down since early 2022, McDonald's (NYSE: MCD) stock is setting new highs this year. It's not hard to see why Wall Street loves the Golden Arches right now. Sales growth is accelerating even as consumers pull back spending in other areas. Profitability is also climbing further into record territory.

Let's take a closer look at the fast food chain's operating momentum through early 2023 and determine whether the stock is a buy, sell, or hold at its current valuation.

McDonald's has a firm grip on an expanding fast-food industry. Comparable-store sales gains accelerated to a blistering 13% in the core U.S. market and across the wider global sales footprint in Q1. That result put the chain ahead of other fast-growing peers, including Chipotle and . Mickey D's is seeing higher customer traffic, but also increased spending thanks to rising menu prices.

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Source Fool.com