BUZZ-Chip stocks fall after UBS reports drop in July semiconductor sales

** Shares of U.S. chip companies fell after UBS reported an 11.1% month-on-month decline in semiconductor sales in July ** Memory business sales, which dropped by 31% on a month-on-month basis has impacted the total seminconductor sales, according to UBS research ** The Philadelphia Semiconductor Index falls 5.2%, on track for biggest drop in a month ** Shares of AI chipmaker heavyweight Nvidia down 6.7% ** Shares of Advanced Micro Devices and Intel fall 4.4% and 6.3%, respectively ** Intel CEO Pat Gelsinger and key executives are expected to present a plan, later this month, to the company's board to slice off unnecessary businesses and revamp capital spending, Reuters reported ** Memory chipmaker Micron Technology shares drop 6% ** NVDA up 123.3%, INTC down ~60%, AMD down ~5% and MU up 6%, compared with a 16% increase in the Philadelphia SE Semiconductor index this year