To prepare the sauce, bring the sherry to a boil in a medium saucepan over medium-high heat, and cook until reduced to 2 tablespoons (about 8 minutes). Add chicken broth and apple juice concentrate; cook until reduced to 1 cup (about 12 minutes). Combine water and cornstarch in a small bowl. Add cornstarch mixture, and bring to a boil. Cook for 1 minute, stirring constantly. Remove from heat; stir in apple and thyme. Cover and keep warm.
To prepare veal, sprinkle veal with salt and pepper. Heat oil in a medium nonstick skillet over medium-high heat. Add veal; cook 3 minutes on each side or until lightly browned. Serve veal with sauce.