4 stocks to watch on Wednesday: Apple, GameStop and more
Justin Sullivan
U.S. stock index futures on Wednesday pointed to a lower open, with oil prices still in focus after crude oil futures (CL1:COM) hit a 10-month high in the previous session. Here are some stocks to watch on Wednesday: 

Apple (NASDAQ:AAPL) stock was among the most actively traded ahead of the opening bell. According to a Wall Street Journal report, China has told government agencies to stop using the tech giant's iPhone and other foreign electronic devices at work. Staff at these agencies were told in workplace chat groups or meetings to stop using the devices, WSJ said, citing people familiar with the matter. The move by China is likely to add to the growing tension between the Asian nation and the U.S.

Shares of Alphabet (GOOG) (GOOGL) will be in focus, after Reuters reported that Google had reached a tentative settlement over a class action suit alleging that its U.S. Play Store had violated U.S. federal antitrust rules by overcharging customers. The report cited a court filing. As per the class action suit, which was brought by more than 30 U.S. states and represented 21M consumers, the plaintiffs had claimed that consumers might have spent less on apps and had more options if it weren't for Google's alleged monopoly.
GameStop (GME) stock will garner some attention, with the videogame retailer scheduled to report Q2 results after the closing bell. Wall Street expects GME to post a loss per share of $0.14 on revenue of $1.14B. GME stock is among one of the most heavily-shorted. It was a core member of the so-called group of meme stocks, having seen massive surges in 2020 and 2021 aided by traders on Reddit. The company's core business of selling physical video games has been under pressure, and it has attempted various cost-cutting measures to improve its profitability.
Eyes will also be on C3.ai (AI) stock, with the enterprise software company on tap to announce FQ1 2024 results after market close. Shares of the firm have nearly tripled in value YTD, amid a huge rally in technology stocks and in artificial intelligence (AI)-related stocks in particular. C3.ai's (AI) report will be seen as a litmus test for AI demand, especially after its guidance in its last quarterly report underwhelmed. The company is anticipated to post a loss per share of $0.17 on revenue of $71.60M.

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