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The curious curse of the iPhone

Does this scenario sound familiar?

Apple releases a much anticipated upgrade to its industry-leading iPhone. The technorati go into a frenzy. Lines form around the block. Critics trip over each other in praise of the new device.

And then the stock tanks.

Shares of the tech giant sold off Thursday, and have fallen nearly 4 percent since the Sept. 19 release. Of course, the company has been plagued by a series of snafus involving the new iOS 8 operating system and a reportedly "bendable" iPhone 6 plus.

Those events are disappointing for consumers, but they hardly explain the billions in lost market cap, making some traders wonder if iPhone releases are becoming the ultimate "sell the news event."

(Read MoreApple's defense: Use iPhones properly, and they don't bend)

Apple's stock experienced a similar fate when it released the iPhone 5 in 2012, falling more than 3 percent in the week after its initial launch and then proceeding to lose 40 percent, before bottoming in June 2013 and going on a vicious rally into this year's iPhone 6 release.

"This is an example of history repeating itself," said Chard Morganlander, portfolio manager for Stifel's Washington Crossing Advisors, who has a price target of $110 per share on the stock. "The company always tends to rally into a major product release and then sells off."

Morganlander noted that he is bullish on Apple in the next 12 months, and sees potential for 9 percent growth, but warned that like many other tech companies, Apple could become obsolete. "We have to be somewhat cautious and pragmatic about this," Morganlander said. "Don't be too relaxed about [Apple]. You want to always have an eye on it."

(Read More'Bendgate' & Apple's reliability testing lab)

The fate of Apple's stock following each new iPhone release.

According Tradinganalysis.com founder Todd Gordon, Apple could be in some serious trouble.

Gordon noted two key levels for the stock, one which holds as resistance and the other as support.

The fate of Apple's stock following each new iPhone release.

First, resistance at $101.72 per share, the same level the stock hit right before the iPhone 5 release and then subsequently sold off. "Here we are two years later at this level, and the stock is selling off. Long-term this is technically significant."

Second, is support at $98 per share, "If the [support] level breaks that

The fate of Apple's stock following each new iPhone release.

could mean steeper losses."

Gordon also looked at the correlation between Apple and the Nasdaq 100 in 2014, which has entered negative territory, all bearish technical indicators in his eyes.

For the full discussion on Apple with Gordon and Morganlander, check out the video above.

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