4 stocks to watch on Wednesday: Apple, UiPath and more
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Major market averages drifted lower in premarket trading as stock indices continue to fight a rising dollar. As the broader averages battle to gain ground, a group of individual stocks have geared themselves up to move on individual news items. Here are a few stocks to watch for Wednesday:
Apple (NASDAQ:AAPL) slid 3.5% in the premarket trading after a media report suggested that the tech conglomerate was pulling back from its plans to boost iPhone production due to a lack of demand for its overall product unit. 
UiPath dipped 4.2% during early market trading as the stock reaffirmed previous guidance and delivered 2024 targets of 18% year-over-year growth for both revenue and ARR of $1,185 million and $1,360 million, which are below current forecast estimates for revenue of $1.25 billion and ARR of $1.442 billion.
Shares of Ocugen, Inc. (NASDAQ:OCGN) are higher by 9.9% after the company announced a licensing deal with Washington University in St. Louis, MO, on Wednesday to introduce an intranasally delivered COVID-19 vaccine in the U.S., Europe, and Japan.
Tracking higher early on are shares of Sierra Metals Inc. (NYSE:SMTS) as the stock picked up 2.3% early on. SMTS moved higher as the company reached an agreement with residents from the town of Alis in Peru following the blockade of the main access road to the Yauricocha mine, which had forced the company to suspend operations there last week.
In other financial news, popular fund manager Cathie Wood outlined to investors that she believes that inflation has peaked in the markets.