Moore's law can't continue indefintely with CMOS technology. Power consumption and heat generated by the CPU core are rising exponentially with linear performance increases. At this rate, in 20 years your CPU core will be as hot as the sun and take a couple dozen kilowatts to run. So, they certainly can't keep clocking higher, and they can't keep making transistors smaller, because they're already at channel lengths shorter than the wavelengths of light, and they're going to start getting into nasty quantum effects. There's only so much you can practically accomplish with parallel processing and pipelining in personal computers. We'll have to see a paradigm shift in technology (perhaps optical computing) for Moore's law to keep on going in the upcoming decades.
