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Did Apple fail to produce another record-breaking success story, or are the negative reports being blown out of proportion?

That's the question on everyone's mind this morning as we brace ourselves for Apple's (NASDAQ: AAPL [FREE Stock Trend Analysis]) conference call. But Apple won't be talking sales numbers; rather, the company is going to use the call to discuss how it plans to use it cash. Of course, the mere fact that Apple won't talk about the iPad is drawing concern for how well the device is actually selling at retail. While the lines were long in New York and other major locations, the same cannot be said for the rest of the world.

At one Metro Detroit location, for example, there were plenty of iPads for everyone. I've attended a few other Apple launches, and this was the first time that the retailer might have actually had enough units to last through the weekend. And when you consider how quickly the line diminished (roughly 50 people were there when the doors opened; 30 minutes later, no one was left), it's possible that this particular location still has a few iPads in stock.

Based on U.S. iPad Traffic data, Global Equities Research analyst Trip Chowdhry believes that the new iPad might not be as hot as the iPhone 4S. “Developers think that http://labs.chitika.com/ipad/ is a good reflection of U.S iPad Traffic Breakdown and is probably accurate,” he wrote in a report late Sunday evening. “We don't know how the global launch is coming.”

“The Chitika site points out that about 4.48% of application traffic is coming from the new iPad,” Chowdhry continued. “The converged view is that if the new iPad was as successful as the iPhone 4S launch, the traffic from the new iPad should have been 12% - 15% of the application traffic within 48 hours, and it is not, which probably indicates a softer adoption for the new iPad.”