A funny thing happened after Intel's (NASDAQ:INTC) disappointing Q1 earnings release: Despite reporting weakened sales and plunging profits, Intel promised investors quick improvement in gross margins this current quarter -- and a whopping 60% gross margin for the year!

Are these promises realistic? Perhaps not. But in this video, Fool contributor Rich Smith will tell you both why the gross margin target may "miss," and why that miss could be a great opportunity to buy Intel stock.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Intel. The Motley Fool owns shares of Intel. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.