Two days ago, Filipe Espósito of 9to5Mac reported that Apple seemed to be running out of Apple Watch Series 5 models at the various places that you can buy an Apple Watch. It appears that now we know why. Yesterday, Apple announced that it will hold an Apple Event on Tuesday, September 15, at 10 Pacific / 1 Eastern. In a normal year, I would think that this is an announcement of a new iPhone. From 2012 to 2019, Apple announced a new iPhone every September. But remember, Apple announced over a month ago that this year would be different (presumably because of COVID-19, although Apple didn't say) because this year the new iPhone will go on sale "a few weeks later" than normal, which likely means that the new iPhone will also be announced a few weeks later — perhaps October 2020.
So what will Apple announce next week if not a new iPhone? The tagline that Apple is using for next week's event is "Time Flies." As John Gruber of Daring Fireball speculates, the word "time" almost certainly indicates that Apple is ready to announce the next version of the Apple Watch. The Apple Watch Series 5 was announced this time last year (and the Apple Watch Series 4 the year before that), so Apple may now be on a yearly refresh cycle for this product. Also, there is a rumor that Apple is close to releasing a new version of the iPad Air (last updated in March 2019), so that could be part of next week's event as well.
Because of COVID-19, this will not be a typical event in which members of the press are in the audience and Apple executives are on stage. Instead, Apple will stream video of the event for anyone to watch.
As we wait for the next Apple Event, if you want a cheap thrill, use an iPad or iPhone to load the event page and the tap the blue graphic to see an animated AR version of the graphic.