In a medium bowl, combine 1/2 cup of the granulated sugar and the cinnamon. Line a baking sheet with paper towels.
In another medium bowl, whisk together the milk, cream, 4 teaspoons of the oil, and the eggs. Stir in the flour, baking powder, salt, and remaining 2 tablespoons granulated sugar until you have a smooth batter.
In a large skillet, heat 2 inches of oil until it reaches 375 degrees on a candy thermometer, and a drop of batter into the oil makes it bubble rapidly.
Dredge the apple slices in a little bowl of flour and then in the batter until all sides are coated.
Working in batches, fry the apple slices until golden brown, about 4 minutes per batch, flipping them halfway through.
Transfer the finished fritters to the lined baking sheet and continue frying. Drop the fritters in the cinnamon sugar mixture and serve hot (they're good cooled, too).