In a medium saucepan, bring chicken broth to a boil over medium-high heat. Reduce heat to low; cover to keep warm.
Heat olive oil and 1 tablespoon butter in dutch oven over medium heat. When foaming subsides, add shallot, apple, and rosemary; cook until shallot begins to soften, about 3 minutes. Add rice and salt; cook, stirring frequently, until rice turns translucent at edges, about 3 minutes. If ingredients begin to brown, reduce heat to medium-low.
Add 1 cup apple cider to rice; cook, stirring frequently, until reduced and syrupy. Add remaining 1 cup cider and reduce again.
Ladle 1 cup hot broth over rice mixture. Stirring constantly, bring to a simmer over medium heat; reduce heat to medium-low to maintain simmer. Cook, stirring every 1-2 minutes, until broth is mostly absorbed and mixture begins to thicken.
Repeat step 4 twice more, adjusting temperature to maintain gentle simmer, and stirring frequently. You should now have used about 3 cups of broth. When broth is mostly absorbed, add the fourth cup of broth, and ½ cup parmesan; continue to simmer until broth is absorbed. Add the fifth cup of broth, and ½ cup parmesan; simmer until absorbed.
Taste the risotto. The rice should have the consistency of biting into a piece of gum, and the mixture between grains of rice should be creamy and homogeneous. If the rice is still firm or starchy, continue cooking, adding ½ cup of broth at a time until the desired consistency is achieved. If you run out of broth, add hot water. Total cook time will be 40-60 minutes.
When the rice is done cooking, remove from heat. Add remaining 1 tablespoon butter and ½ cup parmesan; stir until butter is melted. Season with salt and pepper to taste, and serve.