Yes, it could be the switch, but that does not happen often.
It could also be the battery, those fail more often than switches.
It could be something scrambled in flash memory. Try starting up into
the BIOS setup screen.
It could be the HD itself. Try booting from a CD.
It could be the OS stalls early on during startup.
Careful observation and listening to the computer's noises can often
give you a hint.
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