Guidetti, 22, declared earlier this month that he hoped to become the first Celtic player to score a hat-trick against their Glasgow rivals since Harry Hood in 1973 when the two teams meet in the League Cup semi-final at Hampden Park.
But Smith, who managed Rangers to 10 league titles during two spells at Ibrox, has hit back at the Swedish striker, believing his comments give his old side a better chance of causing an upset on the day.
“You’ve got to have an overall respect for the teams you play against,” he said.
“Rangers will have a respect for Celtic. I’m not so sure Celtic are showing the same respect, with some of the comments their players are making. One of them’s talking about scoring a hat-trick.
“If that is an overall feeling that Celtic have got, then it gives Rangers probably a better opportunity than maybe they should have.”
Guidetti got off to a hot start to his Celtic career after arriving on a season-long loan from Manchester City in September, scoring 11 goals in his first 12 games, but the gregarious front man has failed to find the back of the net since November.
The Premiership Leaders remain clear favourites ahead of the first Old Firm clash since April 2012, with Rangers trailing Hearts by 13 points in the Championship, but Smith insists Kenny McDowall’s side can earn a shock result.
“Of course they can,” he added. “Their results this season, some have been indifferent, but in the three cup games against Premier Division teams, they’ve won these games. And I don’t think Celtic are as good now as they were a couple of seasons ago.”