The iPhone maker originally had plans to open around 100 stores that were 6,000 square-feet, but its retail stores are now around 8,400 square feet, and that's proving to be too small, says Needham & Co. analyst Charles Wolf in a research note.
Apple has been building temporary stores while it expands in areas such as New York City's SoHo, and has built mega-stores in Grand Central Terminal, as well as London's Covent Garden. Wolf said that the Apple Store plays a vital role in building Apple's brand, calling it "the 'face' of Apple." He rates Apple shares "buy" with a $620 price target.
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