Top stocks of the week and how to trade them

Published Fri, May 27 201610:52 AM EDTUpdated Tue, May 31 20164:30 PM EDT

CNBC Pro highlights the top-performing stocks this week and analyzes whether the good times will continue. The price changes were calculated as of Friday morning, so are subject to change. If one stock led multiple indexes, we profiled the second best. Best in the Dow: Apple (AAPL), up 5.5 percent percent this week Source: FactSet Apple rallied after a Taiwan Economic Daily report Monday said the company asked suppliers to produce 72 million to 78 million iPhone 7 series phones by the end of the year, above Wall Street expectations of 65 million. Wells Fargo's Maynard Um remained bullish on the iPhone maker. In a note to clients Monday, he said: "We believe it is not a foregone conclusion that the consumers will skip the iPhone 7 upgrade in 2016. The core of our premise revolves around continued competition for subscribers as two-year contracts come up for renewal. As our units per carrier analysis shows, there appear to be more subscribers eligible for upgrades in non-S cycles." Um's 12-month valuation target on Apple is $120 to $130, representing 25 percent upside at the midpoint of the range from Thursday's close. Best in the S & P 500: Dollar Tree (DLTR), up 15 percent this week Source: FactSet Shares of the discount retailer led the S & P 500 this week as quarterly earnings came in well ahead of analysts' expectations, pushing the stock to its highest levels of 2016. Following the report, Sterne Agee CRT's Renato Basanta reiterated a buy rating on Thursday: "In our view, DLTR's operational focus on relevancy, value, convenience, and service will continue to permeate the Family Dollar business while still keeping Dollar Tree growing nicely. Layer in sign of a healthier low-income consumer and DLTR remains a top pick" The analyst has a 12-month price target of $97, representing 10 percent upside from Thursday's close. Read More Memorial Day week is often a good one for stocks Best in the Nasdaq 100: Ulta Salon (ULTA), up 11 percent this week Source: FactSet Note: Ulta Salon is the second best-performing stock in the Nasdaq 100 behind Dollar Tree. The beauty retailer posted better-than-expected first-quarter earnings on Thursday. Nomura's Simeon Siegel wrote in a note Friday that he sees similar strong results ahead: "ULTA has beaten its sales guidance in all but one quarter since first quarter 2010. All in, it is the best guider within our group, speaking to management's ability to forecast the business; based on our analysis of historical practices, we expect the guide to prove conservative yet again with further upside to estimates." Siegel's 12-month price target is $244, representing 6 percent upside from Friday morning's open price. Read More Berkshire, up 10% YTD, to rise another 25%: Tilson — CNBC's Michael Bloom contributed to this story.

Li Muzi | Xinhua | Getty Images

CNBC Pro highlights the top-performing stocks this week and analyzes whether the good times will continue.

The price changes were calculated as of Friday morning, so are subject to change. If one stock led multiple indexes, we profiled the second best.