Moore's Law states that the processing speed and storage capacity of hardware will increase and its cost will decrease by approximately a factor of 3 every 18 months.

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Moore's Law originally stated that the number of transistors on a microchip doubles about every two years, though it is often simplified to an increase in computing power at a similar rate, not specifically about processing speed, storage capacity, or cost decreasing by a factor of 3 every 18 months.

Moore's Law States That the Processing Speed and Storage Capacity