L1 Cache
Stands for level one cache. A memory cache that is built into the CPU core to temporarily hold data being processed.
L2 Cache
Stands for level two cache. A memory cache housed outside the processor core, but still a part of the CPU. Typically larger and slower than the L1 cache.
Laptop Computer
A computer system that is smaller than a briefcase but larger than a notebook. Typically has a clamshell design where the keyboard and display are on separate halves of the system. Named for its use as a computer that can be used while resting in the users lap.
Laser Printer
A type of printer that is a combination of an electro-static copying machine and a printer. An electro-static charge is used to transfer toner onto the page, which is then fused onto the paper due to very high heat. As a result, pages are expelled from the printer very quickly and output in a completely dry state. Laser printers are fast, accurate, and don't require as much resupplying of printing media as Inkjet's do. They are, however, much more expensive.
LCD - Liquid Crystal Display
A display that uses liquid crystal sealed between two pieces of glass. Must be coupled with a back-light in order to display images. Quickly replacing CRTs as the computer display standard. Offer high resolution and true colors in a compact design.
LED - Light-Emitting Diode
A semiconductor diode that emits light when a current is passed through it.
Local Area Network
The connection of multiple computers using a network adapter card, and often a hub, switch, or router.