What does the absolute valued expression actually mean according to this?

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Does this mean that for an absolute value of $x$, we can either get two values of $x$ which must be greater than or equal to $0$ or two values where if one is negative then the other must be positive and they both must be less than $0$? Thanks a lot!

For the absolute valued expression $|x|$, we have:

$\bbox[5px,#e2f9fe]{|x|=\begin{cases}x,&x\ge0\\-x,&x<0\end{cases}}$

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It says that if x is negative, the result is $-x$, which is $x$, and if it is positive, is $x$.