October 14, 2009
McDonald’s (NYSE:MCD) was supposed to crush Starbucks (NASDAQ:SBUX) in the premium coffee business when the world’s largest restaurant chain introduced a line of premium java more than a year ago, but its momentum is beginning to wear out.
New research done in September by ChangeWave shows that those surveyed were 5% more likely to buy coffee from Starbucks in the upcoming 90 days than in the 90 days just past. The figure for McDonald’s was down 3%. Starbucks almost made gains in the previous survey. The research confirms what Wall St. has suspected that the coffee store chain is doing well. Its shares are over $20, near a 52-week high and up from a period low of $7.06.