Cult of Mac is reporting that Apple may be preparing to discontinue the Magic Mouse, in an attempt to direct users to the company’s Magic Trackpad offering, so that users can better utilize all of the multi-touch features in OS X Lion. The report’s source, who reportedly works in Apple Retail, claims that Apple simply isn’t replenishing stock of the Magic Mouse, as their stores run low on inventory.

Granted Apple has a long history of phasing out what they see as outdated technology, but I sincerely don’t believe they will phase out the mouse. It’s not so much that Apple makes a lot of money from Magic Mouse sales, as much as it’s a hole that Apple plugs. That is, they don’t make a lot of money off of them, but not selling them could be devastating, as it could drive users to purchase third-party products, or even other computer manufacturers (a stretch, I know).

Remember, Apple also offers a wired mouse called The Apple Mouse, which was formerly known as the Mighty Mouse, with a scroll ball on top, and a clickable shell to invoke features such as Expose.

In short, I find this report hard to believe. Perhaps Apple is going to phase out the Magic Mouse in favor of the Magic Trackpad, but more likely, Apple will phase out the Magic Mouse, with a new mouse that can handle more of the multi-touch features. Hell, we’ve seen Apple patents showing the company’s interest in new mouse technology.

[UPDATE] Cult of Mac issued a follow-up report and indicates that the Magic Mouse will not be discontinued, but instead will be issued a new part number. This could very well mean that the Magic Mouse will soon see an update. That sounds familiar somehow…

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