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Stupid question, but if I save an image using Save as..., does the image retain its quality?
It will! "Save as" will give the option to save your file to a different location and also give you the option to save as a different file format if you would like. Changing the file format may reduce quality FYI.
Here is a link to explain more: https://helpx.adobe.com/photoshop/using/saving-images.html
The 'Save As' aspect is not relevant to image quality. That depends entirely on the file format you choose.