How to get option text value using AngularJS?

The best way is to use the ng-options directive on the select element.

Controller

function Ctrl($scope) {
  // sort options
  $scope.products = [{
    value: 'prod_1',
    label: 'Product 1'
  }, {
    value: 'prod_2',
    label: 'Product 2'
  }];   
}

HTML

<select ng-model="selected_product" 
        ng-options="product as product.label for product in products">           
</select>

This will bind the selected product object to the ng-model property – selected_product. After that you can use this:

<p>Ordered by: {{selected_product.label}}</p>

jsFiddle: http://jsfiddle.net/bmleite/2qfSB/