The north London side are among the favourites to lift the trophy at the end of the season, with Arsene Wenger’s men currently in fourth place and three points behind leaders Chelsea after 11 games of the season.
Arsenal have not won the top flight since their famous unbeaten triumph in the 2003-04 season but finished as runners-up last term as they ended up 10 points behind champions Leicester City.
Much has been made about Arsenal’s failure to win the top flight trophy since the north London club’s stadium switch from Highbury to The Emirates back in 2006.
And former Arsenal man Smith feels that Wenger’s side are still not quite strong enough to be considered as genuine contenders for the title.
Speaking to Sky Sports News HQ on Monday morning, Smith said: “I wouldn’t have too much money on them winning the league, I really wouldn’t.
“The performance at Old Trafford showed their shortcomings.
“They have got better, they’re winning or drawing some games that they might have lost last year, but I still think they’re a distance off having that mental attitude to go on and stamp their authority on the league.
“They have great quality and strength in depth – but are still a little bit short for me unfortunately.”
Arsenal take on West Ham United at the London Stadium in the Premier League this weekend.
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