Mickey Mouse is feeling pretty good these days.

Shares of Disney (NYSE:DIS) hit an all-time high this month, and an improving global economy should translate into improving fundamentals at the family entertainment giant.

Analysts see Disney's earnings climbing at a 12% clip this fiscal year, and 13% come fiscal 2014, but that may ultimately prove too conservative. Underestimating the entertainment powerhouse has worked wonders for Disney stock before. It can happen again. 

In this video, Rick looks at how Disney's latest acquisitions -- even though they set the media giant back billions -- will pay off nicely by expanding its addressable market. If the Pixar and ESPN deals seem brilliant in retrospect, the future is even brighter for its more recent deals for Marvel and Lucasfilm.

Disney stock has been a winner before, and the stage is set for some more victory laps in the future.

Longtime Fool contributor Rick Munarriz owns shares of Walt Disney. The Motley Fool recommends Walt Disney. The Motley Fool owns shares of Walt Disney. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.