Dolby Laboratories is a stock to watch after Apple's new iPhone launch

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Dolby Laboratories is a stock to watch after Apple's new iPhone launch
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Dolby Laboratories Inc. DLB, -1.49% surged by $5.13, or 9.5%, to close at $59.07 Wednesday on an astounding 3.8 million shares traded, more than eight times its average daily volume. The audio and imaging tech company rose rapidly on news from Apple's product launch event. Apple AAPL, -0.86% is implementing Dolby Vision image technology in its devices. Wednesday's price movement is significant because the stock broke out of a multi-month consolidation and rose above the lateral resistance levels in place since February 2011. The next target is $70.

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