Semiconductor equipment company KLA Corp. (NASDAQ:KLAC) impressed Wall Street after it reported "strong" first-quarter results and guidance, though concerns popped up as demand from China helped aid the quarter, an event that may not be sustainable. Citi analyst Atif Malik said the company's management team conceded that demand out of China is likely to "moderate," though they still expect it will be consistent in 2024. "Management mentioned the company is tracking about 30 projects in China," Malik, who has a buy rating and $570 price target, wrote in an investor note. "This year would be about $2B for [statistical process…