New Delhi, Aug. 6 -- Shares of SanDisk plunged 14% on Thursday, 6 August, falling to an intraday low of $1,163 apiece, after the company's revenue outlook disappointed Wall Street, overshadowing a stronger-than-expected performance in the fiscal fourth quarter.

Investors appeared concerned about whether the memory-chip maker can sustain its exceptionally high profit margins after a sharp rally in the stock and a significant jump in AI-driven demand.

For the fiscal fourth quarter, SanDisk reported revenue of $8.97 billion, nearly five times higher than the $1.9 billion reported in the corresponding period last year. The figure also exceeded Wall Street's estimate of $8.39 billion.

The performance was largely driven by a surge in spendin...