McDonald’s misses Q2 estimates across the board, as consumers pull back on dining out . Nonetheless, McDonald’s stock surged $10, suggesting it’s not a big deal or that the worst is over: People may complain about prices or stories may go viral about fast food being too expensive , but this hasn’t affected consumers’ habits much. Indeed, McDonald’s stock has performed quite well despite this. I posit McDonald’s, like Chipotle and Wing Stop, has become yet another ‘premium product’ for the upper-middle-class. That is the biggest customer base right now. It’s a misconception that only poor or lower-middle-class people consume fast food or that fast food is most popular with those people. Maybe this was true decades ago, but not anymore. The days during the ’90s growing up and scrounging for change to go to McDonald’s are long over. The people who are spending $40+/day on Chipotle and other premium fast food are not by any stretch poor. They have tons of disposable income and good jobs.…