In a medium-large saucepan over medium heat, bring water and sugar to a boil - without stirring (very important!!!). Once it is boiling, boil for 5 minutes.
Add cranberries, cook until berries pop and sauce is thickened, about 10 minutes on medium-low temp. The cranberries will burst, but be lumpy. All of them may not burst! Make sure to stir often. Remove from the heat.
Add lemon juice, apricot and almonds to cranberry mixture. Mix all together and refrigerate for 1-2 hours.
Serve on a block of cream cheese with crackers. I love it with Ritz! :) Refrigerate leftovers.