If the rumour is correct, we have a chipmaker who is a little behind in the mobile market, working with a company which has been unable to write software for its smartphones which can tell the time.
For a long time, everytime the clocks adapted to summer time, legions of Apple fanboys found that their phones were telling them the wrong time.
Intel is still a long way behind ARM in making a system on a chip that can do all the mobile things that you expect from a watch, without needing a new battery every five minutes.
The source of the rumour is China's TGbus.com. It claims that the smartwatch will be Bluetooth-enabled and have a 1.5-inch touchscreen display and work directly with the iPhone.
This will mean that users can make phone calls and perform other operations from their wrists which are not the ones that Apple fanboys usually do with their wrists.
PC Mag, in a desperate attempt to give Apple a free press release claimed that a smart watch made sense.
Jobs' Mob had decided to screw iPod users by making their nano accessories obsolete. However, it did make it possible to turn the device into a kind of smartwatch and there are kickstarter projects like the TikTok and LunaTik iPod nano watch straps out there.
Then Apple inexplicably changed the design of the iPod nano which turned it into something which was even less useful than the original. Such a stupid move could only be explained if Apple might be attempting to displace would-be smartwatch competitors.
It could also have been a misstep by the same people who signed off on Apple Maps and the iPad Mini, but that is too logical for PC Mag. If the watch is clearly supposed to be connected to an iPhone, then it means that the misstep has nothing to do with the watch and was just another silly move from Jobs' Mob which is giving up on its dying iPod line.
One rumour which could be connected to a smartwatch is the fact that Apple paid the Swiss Federal Railway a lot of money so that it could use its trademark in iOS.
One Swiss news source claimed that Apple paid about $21 million for the licence, which is a little steep unless Apple was planning to launch a product based around the design.
No one is saying what Chipzilla's involvement is. Any watch would need a chip to run a Bluetooth connection to an iPhone which does not drain the battery every day. We would not have thought that Intel was the company to ask.