Heat the butter over high in a 12 inch skillet until frothy. Add the apples. Cover and cook, stirring occasionally, until soft, about 3 minutes. Stir in water, brown sugar, and cinnamon. Cook covered, stirring occasionally, for about 5 minutes. Syrup will become thick, apples soft, and pan almost dry. Add the cream and cook, uncovered, until juice is syrupy, 1-2 minutes. Turn off heat and stir in bourbon. Let stand another minute to allow alcohol to evaporate.