Analyst: 70% Apple will develop its own search engine with five years

Piper Jaffray analyst Gene Munster told clients he thinks there’s a 70% chance that Apple will develop its own search engine within five years.

“We believe the company needs to develop its own search technology to protect the data generated on the iPhone,” he writes. “We believe Apple could utilize data unavailable from ,Google, data generated by the company’s App Store, to create a mobile centric search engine.”

According to “Barron’s” (“http://blogs.barrons.com/techtraderdaily/2010/03/30/apple-when-will-they-build-their-own-mobile-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. The Sellers Research Firm (that’s me) is dubious that this will happen.

— Dennis Sellers