An apparatus comprises a ferromagnetic free layer having a first magnetic moment and having a magnetization that rotates in response to an external magnetic field, a first ferromagnetic reference layer positioned adjacent to a first side of the ferromagnetic free layer and having a second magnetic moment that is greater than the first magnetic moment of the ferromagnetic free layer, a second ferromagnetic reference layer positioned adjacent to a second side of the ferromagnetic free layer and having a third magnetic moment that is greater than the first magnetic moment of the ferromagnetic free layer, a first non-magnetic spacer layer positioned between the ferromagnetic free layer and the first ferromagnetic reference layer, a second non-magnetic spacer layer positioned between the ferromagnetic free layer and the second ferromagnetic reference layer, and a source of magnetic field for biasing the first and second ferromagnetic reference layers.

 
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