Preheat oven to 350F and grease an 8x4" loaf pan. Set aside.
In a small bowl, combine apples, sugar, and cinnamon. Stir to coat, then set aside.
In the bowl of a stand mixer fitted with the paddle attachment (or in a large mixing bowl with an electric hand mixer), add vegetable oil and sugar. Mix on low speed to combine.
Add eggs and vanilla extract, mixing to incorporate.
In a separate small bowl, whisk together flour, baking powder, baking soda, salt, and cinnamon.
With the mixer on low speed, gradually add the dry ingredients to the wet ingredients. The batter will be somewhat thick.
Add half of the batter to the prepared loaf pan. Sprinkle half of the apples on top of the batter.
Add the remaining half of the batter, followed by the remaining half of the apples. Gently press the top apples into the batter.
Bake in preheated oven for about 65-75 minutes, or until a toothpick inserted in the center of the pan comes out clean.
Remove pan from oven and let the loaf cool in the pan for about 10 minutes. Then run a knife along the edge of the loaf to ensure it's loosened from the pan. Remove the loaf from the pan to a serving plate to cool completely.
When loaf is cooled, prepare glaze by whisking together powdered sugar and 2 tablespoons of heavy cream. If the mixture is too thick, add another tablespoon of cream. Once the glaze is smooth, spoon it over the top of the loaf.
Slice and serve!