In a large Dutch oven, combine the apples, apple cider, water, and lemon juice. Bring to a boil and then lower to a simmer. Cook, covered, for 30 minutes or until the apples are mushy. Puree with an immersion blender.
Stir in the sugar and cinnamon. Cook on medium-low heat, uncovered, for an hour or until thickened, stirring frequently.