Here's what analysts had to say about Apple's 'Time Flies' event

During the event, Apple announced a new Apple Watch Series 6 and lower-cost Apple Watch SE; updates to both the iPad Air and 10.2-inch iPad products; and new digital services such as Apple Fitness and the Apple One bundle.

Although the event didn't see the launch of the "iPhone 12," the consensus among analysts was that the "Time Flies" keynote featured products and services aimed at new stay-at-home and health trends during the coronavirus health crisis.

Gene Munster, Loup Ventures

Loup Ventures analyst and partner Gene Munster said that the "Time Flies" event highlighted Apple's "upsell mastery," or the company's ability to segment product lineups and motivate consumers to opt for higher-priced devices.

"While more subtle today, it's clear that the upsell was on display again," Munster wrote. Specifically, the analyst notes examples like the higher price point of the iPad Air 4, the bundling of Apple services, and Apple Watch segmentation through the introduction of the Apple Watch SE.

Beyond making newer Apple Watch features more affordable with the Apple Watch SE, Apple's Family Setup feature could also extend the health and safety benefits of the wearable to kids and older adults who may not own an iPhone.

On services, Apple One will likely "inch up revenue" from the company's existing subscriber base. Munster also points out that the $9.99 price point of Fitness+ signals that Apple wants a piece of Peloton's market share.

Krish Sankar, Cowen

The lead Cowen analyst believes that both Apple Fitness+ and Apple One could be a net positive for services growth alongside the new Apple Watch models.

As echoed by other Apple watchers, Sankar called the launch of Apple Fitness+ timely during the ongoing coronavirus health crisis. Apple One, the analyst added, could incrementally drive subscriber growth through its bundled savings.

Although Apple Fitness+ isn't a moonshot product, Sankar sees its tight integration with the Apple Watch platform as a key differentiator in the at-home fitness space.

"We view Fitness+ and the Apple One bundles as being positive catalysts in helping to drive incremental growth in paid subscriptions, although the latter bundle does have the partial offset of compressing blended average pricing," Sankar wrote.

Samik Chatterjee, JP Morgan

In a note to investors, Samik Chatterjee said that JP Morgan came out of the "Time Flies" event with a largely positive outlook on Apple — despite the fact that no new iPhones made their debut during the keynote.

That's due to a couple of reasons, including the compelling price of features of the Apple Watch Series 6, as well as the fact that both Family Setup and the Apple Watch SE broaden the device's appeal to a wider demographic.

The product lineups that were updated on Tuesday appeared well-suited to take advantage of tailwinds from the COVID-19 crisis. The iPads could leverage increased demand from both new work-from-home and remote learning trends, while Apple Fitness+ and new Apple Watch models could bode well from an uptick in at-home workouts.

Chatterjee said that Apple One could also drive a much larger total available market (TAM) for services, since it bundles "successful" platforms like Apple Music and iCloud with more nascent services in the company's portfolio.

Regardless of analysts' opinions and predictions, Apple stock is presently at $113.82 at noon Eastern time, down about 1.5% on the day.