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"This is another huge one. India will be the most populous country in the world in 2022," Cook said.
The United Nations recently reported that India's population will surpass China's by 2022. More importantly, Cook notes, about half of India's population is 25 years old or younger. Faster cellphone service LTE is not yet available in India, though iPhones sold there. As LTE will begin to roll out in India this year, Cook sees major potential.
"That's changing — huge market potential," Cook said.
Part of the resistance of Apple product penetration in India, Cook said, is that the retailers that sell Apple products in India are not huge retailers, and carriers don't sell phones there.
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"Last quarter, we did 56 percent in India on iPhone units, so this is pretty big," Cook said.
As for the China and Asia, Cook remains optimistic about the growth in China and remains excited about the booming middle class there.