McDonald's (NYSE: MCD) shareholders have had a rough year so far in 2023. The fast-food stock has underperformed the market by a wide margin, declining 5% through mid-October, while the S&P 500 gained 14%.

That stock price slump reflects worries about slowing spending in the fast-food industry, but those fears could be overblown. The industry leader maintained its positive sales momentum into the early summer months, after all. Its profitability still sets the standard in its industry niche, too.

With those positive factors in mind, let's look at where McDonald's could be headed in the next year or so.

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Source Fool.com