I think at this point it is probably pretty hard to predict how next summer’s internships will look. For the time being, it is probably best to make sure to keep in contact with companies that you are interested so that when the time does come for internships to return to normal, you are well connected with hiring managers, etc.
I think many internship opportunities will definitely be lost because of this ongoing situation, but I think there will be a lot of opportunities with companies that dedicate themselves to online work or providing online solutions. I think looking for opportunities from those kinds of companies will be a good backup plan just in case an internship gets cancelled.
I have been told that my internship may be canceled or moved online. A lot of firms are moving online or canceling their internships entirely though which is quite unfortunate. I have heard the JP Morgan and Goldman Sachs have moved their internship back 5 weeks because of COVID. It is going to be interesting to see what others do.
The internship/co-op program I had last spring was discontinued indefinitely because (I’m guessing) the company couldn’t afford to invest so much time and resources in an extensive internship program. That is to say, if you had your eye on a particular internship program, double-check to make sure that the program is still available post-COVID.