Adversarial training is currently the most powerful defense against adversarial examples. Previous empirical results suggest that adversarial training requires wider networks for better performances. Yet, it remains elusive how does neural network width affect model robustness. In this paper, we carefully examine the relation between network width and model robustness. We present an intriguing phenomenon that the increased network width may not help robustness. Specifically, we show that the model robustness is closely related to both natural accuracy and perturbation stability, a new metric proposed in our paper to characterize the model's stability under adversarial perturbations. While better natural accuracy can be achieved on wider neural networks, the perturbation stability actually becomes worse, leading to a potentially worse overall model robustness. To understand the origin of this phenomenon, we further relate the perturbation stability with the network's local Lipschitznesss. By leveraging recent results on neural tangent kernels, we show that larger network width naturally leads to worse perturbation stability. This suggests that to fully unleash the power of wide model architecture, practitioners should adopt a larger regularization parameter for training wider networks. Experiments on benchmark datasets confirm that this strategy could indeed alleviate the perturbation stability issue and improve the state-of-the-art robust models.