After Tech Data's reported Q2 EPS that missed expectations due to lower than expected margins and the shares fell 20% after hours,BofA/Merrill analyst Param Singh blames the miss on "lower profits from a high margin rebate program, currency-related costs in its components business and increased competitive pressure. " Singh expects the component business issue to disappear by the end of this year and predicts that the rebate pressure will ease by the end of 2017. The analyst expects the stock to rebound from the after hours level and keeps a Buy rating on the shares.