The correct value to check here is the SelectedItem property.
A ComboBox is a composite control with two of its parts being:
The image above was taken immediately after the ComboBox was expanded (i.e. before selecting a new value). At this point both Text and SelectedItem are "Info", assuming the ComboBox items were strings. If the ComboBox items were instead all the values of an Enum called "LogLevel", SelectedItem would currently be LogLevel.Info.
When an item in the drop-down is clicked on, the value of SelectedItem is changed and the SelectionChanged event is raised. The Text property isn't updated yet, though, as the Text Part isn't updated until after the SelectionChanged handler is finished. This can be observed by putting a breakpoint in the handler and looking at the control:
Since the Text Part hasn't been updated at this point, the Text property returns the previously selected value.