Peel, core, and chop the apples small if you want a smooth, skinless applesauce. Or, you can also leave the skin on and use a food mill after completing the cooking cycle. The food mill will make the applesauce smooth and remove the skins. If I have organic apples, I leave the skin on and we think it tastes delicious this way!
Add the liquid (apple juice, apple cider, or water), cinnamon, and lemon juice to the Instant Pot. Put the lid on, lock it, and turn the valve to sealing.
Press the manual button and cook at high pressure for 4 minutes.
After the cooking time is up, do a natural release.
Open the lid and stir. Use an immersion blender to blend the applesauce into a smooth texture. (If your apples are already extremely soft, you may not need the immersion blender.)
For storage, ladle the completed applesauce into canning jars. I use a quart jar and a pint jar. You could also use several pint jars if you prefer. Store in the refrigerator. They'll stay good for a week or two. For longer storage you can freeze in freezer jars or bags for up to 6 months.
Optional: run the completed applesauce through a food mill if you left the skin on and you want to remove it.