1. Preheat oven to 350 degrees Fahrenheit. Grease a bundt pan with nonstick spray.
2. Combine cake mix, pudding mix, water, eggs, and applesauce in a medium bowl. In a separate bowl, toss apples with cinnamon until well coated.
3. Pour one third of the batter into bundt pan, then spread half the apple slices over the batter. Repeat with another third of the batter and remaining apples, then top with remaining third of the batter.
4. Bake for 50 minutes. Let cool before removing from bundt pan. Sprinkle with powdered sugar before serving. Freezes well.