A magnetic memory element is disclosed. The magnetic memory element includes a magnetic via for storing information, made of a magnetic material and being vertically oriented relative to a wafer surface on which the magnetic memory element is formed, the magnetic via having a magnetic anisotropy with its magnetization vector being magnetically coupled to at least one current line, and a magnetic sensor element comprising at least one magnetic layer having a magnetization vector being magnetically coupled to the magnetization vector of the magnetic via, wherein the magnetic sensor element being conductively connected to said at least one current line.