It's not clear from your question whether your ComboBox is data-bound or not; either way, I think it would be a good idea to first figure out if SelectedItem is indeed the correct property to use, or if there's another, more appropriate one.
If you've set a DataSource for your ComboBox, you've probably also set a DisplayMember. In that case, the DisplayMember will determine which property of the currently selected item of the data source will be shown in the ComboBox as text.
If you've set a ValueMember, you can also use the SelectedValue property to retrieve that property of the currently selected data source item.
SelectedItem simply retrieves the currently selected data source item. This may be a complex object, or a string object, or something else; check with your data source.
The ComboBox's Text property simply contains the text that's currently displayed in the ComboBox's text input field and has type string.
stringfield/property? Then it's a simple assignment.stringin some unnamed class, which is not what you apparently mean.)