In a large skillet over medium heat, cook the bacon until crisp. Transfer the bacon to paper towels to drain.
Add the onions to the bacon drippings and cook until translucent. Add the chicken broth to the skillet along with the red wine vinegar, sugar, salt, and pepper. Add the shredded purple cabbage and bring to a simmer. Reduce the heat to low and cover the pan; continue cooking for 10 minutes. Add the sliced apples and cook for about 10 to 15 minutes longer, or until the cabbage and apples are tender.
In a small bowl, combine the cornstarch and water; stir into the cabbage mixture. Continue cooking until thickened, stirring frequently.
Top the cabbage with crumbled bacon before serving.