A look into the future of Apple, Inc.

Apple has 367 retail stores to date, with 30 percent of them being outside the U.S.

The company will add 40 stores over the next year, and 75 percent of them will be international, Munster said.

Some ask if Apple needs to create cheaper versions of their products for countries with lower incomes.

"Our answer is: they don't," Munster said. "We expect the 3GS will be a home run in China."

The price on the 3GS was recently dropped to $49.

Munster also said the opportunity is also in Brazil, Russia and India, which collectively make up 21 percent of the worlds population.