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In this video tutorial, Justin Conway, a Microsoft Excel expert, demonstrates how to remove a drop-down box from a cell in Excel while retaining its current value. He explains that by accessing the "Data Validation" option, users can change the setting from "List" to "Any Value" to remove the drop-down. This allows the current value, such as "apples," to remain while the drop-down options are eliminated. The same process can be applied to multiple cells to remove drop-downs from an entire list. Additionally, he mentions alternatives for removing data using right-click options, particularly for MacBook users.