Combine the first 5 ingredients in a bowl; stir well. Cut in margarine with a pastry blender until mixture resembles coarse meal; set aside.
Place apple slices in an 8-inch square baking dish coated with cooking spray; drop apricot preserves by teaspoonfuls onto apple slices, and sprinkle evenly with the flour mixture. Bake at 375° for 35 minutes or until bubbly and golden.
