We started with mainframes, then mini-computers and then micro-computers (PCs/Macs). What happened in the last 10 years? Through the "cloud" we basically went back to large computers and timesharing again.
Another turning point in the last 10 years is that basically any PC made since 2000 will probably be sufficient for what most normal users want. We get increasingly powerful CPUs that most people just don't need.
This is part of the reason for the move to lower power consumption. A smaller form factor and lighter computer is something most people care about. Having 6 cores instead of 4 just isn't.
Many pundits have predicted that Web applications will take over. 5-10 years ago there was a reasonable basis for this opinion. Computers would get increasingly powerful and that headroom would make the otherwise horribly inefficient Javascript medium (compared to the compiled languages like C/C++ or even the bytecode languages like Java/C#) dominant as the inefficiencies become irrelevant.
The rise of native apps on mobile is another example of this cycle. Part of this is that native apps have access to libraries that Web pages simply don't but part of it really is performance and the fact that performance once again matters.
Personally I find the manufacturing of chips at 22nm to be simply amazing. When I started paying attention to this stuff IIRC the 386/486 were done on 500nm+ lithography.
I do wonder what the future holds because that number just can't physically get much smaller (with current lithographic techniques).
It's amazing how much power a small chip can get now. I have one of the latest Macbook Airs and it can decode 10 video streams without the fan coming on. A friend has the Core 2 Duo MBA (last year's) and his machine is dying under the same load.