Method and system for providing magnetic junctions having engineered perpendicular magnetic anisotropy

A magnetic memory comprising:

• a plurality of magnetic storage cells, each of the plurality of magnetic storage cells including at least one magnetic junction, the at least one magnetic junction including a pinned layer, a nonmagnetic spacer layer, and a free layer, the free layer having an engineered perpendicular magnetic anisotropy (PMA), the nonmagnetic spacer layer being between the pinned layer and the free layer, the engineered PMA including at least one of an insulating insertion layer induced PMA, a stress induced PMA, PMA due to interface symmetry breaking, and a lattice mismatch induced PMA, the free layer including a plurality of magnetic layers, the plurality of magnetic layers including at least one oxide layer and a plurality of conductive layers, the at least one oxide layer being ferromagnetic, interleaved with the plurality of conductive layers and sandwiched between the plurality of conductive layers, the magnetic junction being configured such that the free layer is switchable between a plurality of stable magnetic states when a write current is passed through the magnetic junction;
• and
• a plurality of bit lines.