Apple Online Store “Piper Jaffray analyst Gene Munster [wrote in a note to clients yesterday] that there is a 70% chance that Apple will develop its own search engine within five years,” Eric Savitz reports for Barron’s. “‘We believe the company needs to develop its own search technology to protect the data generated on the iPhone,’ he contends. ‘We believe Apple could utilize data unavailable from Google; data generated by the company’s App Store, to create a mobile centric search engine.’”

“Munster figures the company could start by making a minor acquisition of a search startup like Cuil, and then use the index as the base for building its own search engine,” Savitz reports.

Savitz reports, “He also thinks the company should invest in the maps business…”

Full article here.

MacDailyNews Take: Munster also thinks Apple should invest in the maps business? They already have. Please see: Apple’s purchase of map firm Placebase a sign of Google rift? – October 01, 2009

[Attribution: Cult of Mac. Thanks to MacDailyNews Reader "cptkirk" for the heads up.]