A specular spin valve structure that is more robust than currently
available specular spin valves is described. The improved stability is
achieved by a using a modified pinned layer that is a laminate of three
layers--a layer nickel-chromium, between about 3 and 4 Angstroms thick,
sandwiched between two layers of cobalt-iron. A key requirement is that
the cobalt-iron layer closest to the copper separation layer must be about
twice as thick as the other cobalt-iron layer. A process for manufacturing
this structure is also disclosed.