It is very possible, Arsenal is in high confidence after winning the match against Manchester City and also Arsenal's performance is quite impressive this season so it is possible that they can win the match against Chelsea next weekend with a convincing score even though the match is played at Chelsea's home ground.
I think it is quite reasonable that Arsenal are the favorites in this match because the performance/quality of the Chelsea team is far below Arsenal.
I also have no doubts that Arsenal can achieve a convincing victory in this match.
Arsenal really wants to win a lot at home to Chelsea this week, because Arsenal wants to beat Tottenham, who are currently at the top of the standings with points that are no different from Arsenal. But in the next match, both Arsenal and Tottenham will both face opponents whose strength is far below theirs, and Tottenham will also try to win more at home when they face Fulham, who is currently in 12th position in the standings with the same points as Chelsea.
It's not easy to beat Chelsea at Stamford Bridge. The reason is that Chelsea is in top form, they were able to win their last two matches at home with a convincing score. This is important capital and motivation for Chelsea to beat Arsenal this week. If Chelsea is able to beat Arsenal, the players' mentality will be formed (trust the process) I am sure Chelsea's winning trend will continue. This will be tough competition in the Premier League.
It's not just Arsenal who want to win, Chelsea is also definitely aiming for victory to catch up with them at the top of the standings. This week's London derby will be a super big match. It's worth the wait.