How to identify and handle potential Apple Cash scam texts?

That's clearly fake. There is no such thing as iApples. Nor does it in any way indicate any ties to Apple Cash.

Apple Cash transaction messages are sent over iMessage not SMS as indicated at the top of the text you show.

click here ➜ Recognize and avoid social engineering schemes including phishing messages, phony support calls, and other scams - Apple Support

Of course it is a scam and you can use this link to report it to Apple:

Recognize and avoid social engineering schemes including phishing messages, phony support calls, and other scams - Apple Support

The best way to avoid being a victim of any Phishing email/text is to never click a link or call a provided number to give them personal information. The one common method for getting you to do that is by trying to scare you into taking that action. There are always ways to verify the contents of an email/message without using the contact information provided in the content. The best thing to do is simply delete it.

“Don't answer suspicious phone calls or messages claiming to be from Apple. Instead, contact Apple directly through our official support channels.”

”To report a suspicious SMS text message that looks like it's supposed to be from Apple, take a screenshot of the message and email the screenshot to reportphishing@apple.com.”

You can report phishing at these links and most importantly your local law enforcement.

Identify legitimate emails from the App Store or iTunes Store.

FTC Complaint Assistant

FBI’s Internet Crime Complaint Center

Learn about how not to be a victim of Social Engineering.

Recognize and avoid social engineering schemes including phishing messages, phony support calls, and other scams - Apple Support