The stock market has surged this year, and tech stocks have done particularly well. While the S 500 is up about 19% year to date, the tech-heavy Nasdaq Composite has soared roughly 37 %.

The number of tech stocks that look cheap relative to earnings or free cash flow has shrunk as the stock market has rallied. However, there are still some good options for value investors. Telecom giant AT (NYSE: T) and hybrid cloud leader International Business Machines (NYSE: IBM) remain solid bargains in a rising market.

While rival Verizon continues to lose consumer wireless customers, AT is having little trouble snagging new subscribers. The telecom giant added 326,000 net postpaid phone subscribers during the second quarter, and it tacked on 167,000 prepaid subscribers as well. Importantly, the company's churn rate remained low. For postpaid phones, churn was just 0.79%.

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Source Fool.com