US Stock Market Move | Chip stocks fell, with the Philadelphia Semiconductor Index dropping nearly 1%.

On Friday, US chip stocks fell. As of the time of writing, the Philadelphia Semiconductor Index fell nearly 1%, Micron Technology, Inc. (MU.US) fell over 1.5%, Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) fell over 2.5%, Broadcom Inc. (AVGO.US) fell over 1.3%, and Western Digital Corporation (WDC.US) fell 0.12%; NVIDIA Corporation (NVDA.US) fell over 1.4%. A trader bought more than 300,000 contracts on Thursday afternoon, betting that NVIDIA Corporation's stock price will fall to $115 by March 7. This implies that NVIDIA Corporation's stock price will drop over 4% from Thursday's closing price, the last time the stock price reached this level was in mid-September last year.