Apple is on deck to report its third-quarter earnings after the closing bell on Thursday.Justin Sullivan/Getty Images; Jenny Chang-Rodriguez/BIApple is set to release its latest quarterly earnings report on Thursday.Analysts have their eye on the company's AI initiatives and the upcoming iPhone 16.The smartphone maker could see a turnaround starting in September, Wedbush said.Investors are waiting on Apple to report its earnings for the third quarter.The results, which will be released after the closing bell on Thursday, will be critical for the iPhone maker, which has struggled with weak demand and rising competition in China over the past year.Still, analysts at multiple firms are still feeling optimistic for the company, given a slew of positive catalysts could be underway.