A magnetoresistive device is provided with separate read and write architecture. In one embodiment, a magnetic tunnel junction (MTJ) has a nonmagnetic nonconductive barrier layer sandwiched between two ferromagnetic conducting layers. A first read line having a first resistance is coupled to a first ferromagnetic layer and a second read line having a third resistance is coupled to a second ferromagnetic layer such that a voltage difference between the two read lines will produce a current flowing perpendicularly through each layer of the MTJ. A first write line having a second resistance is separated from the first read line by a first insulator and a second write line having a fourth resistance is separated from the second read line by a second insulator, and wherein the second and fourth resistances are lower than the first and third resistance.