(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

June 25 (Reuters) - European shares opened higher on

Thursday, led by gains in technology stocks, as strong forecasts

from Micron and Qualcomm ( QCOM ) assuaged concerns about ballooning

valuations in the sector, while easing oil prices provided

further support.

The pan-European STOXX 600 index was up 0.27% at

636.88 points by 0711 GMT.

The AI rally was back in focus as U.S. chipmakers Micron

and Qualcomm ( QCOM ) unveiled strong forecasts, temporarily

placating investor concerns that a rally in global AI-linked

stocks had run too far.

European tech stocks, up 30% for the quarter, rose

1.7% and led gains on the benchmark.

Chipmakers Infineon and

STMicroelectronics gained 5.2% and 3.7%,

respectively, while semiconductor equipment suppliers BE

Semiconductor and ASML climbed more than

3.5% each.

AI-equipment maker Siemens Energy added 1%.

Continued declines in oil prices also supported investor

sentiment, as more stranded oil tankers exited the Strait of

Hormuz.

Among individual stocks, H&M shares were down 1.2% after the

Swedish fashion retailer reported second-quarter operating

profit below estimates. The broader retail sector was up

0.4%.

easyJet shares rose 5.5% after the British budget

carrier rejected a fourth takeover offer from U.S.-based

investment firm Castlelake.