A method of fabricating a magnetoresistive element, the method comprising: forming a first plurality of layers without breaking a vacuum, the first plurality of layers sequentially comprising: a first nonmagnetic conductive layer; a first ferromagnetic layer comprising an amorphous structure and a first magnetization direction; a nonmagnetic tunnel barrier layer; a second ferromagnetic layer comprising an amorphous structure and a second magnetization direction, and a getter layer having a direct contact with the second ferromagnetic layer; annealing the first plurality of layers; removing the getter layer and a portion of the second ferromagnetic layer adjacent to the getter layer; forming above the second ferromagnetic layer a second plurality of layers such that interface between the second ferromagnetic layer and the second plurality of layers is formed without breaking a vacuum after removing the getter layer and the portion of the second ferromagnetic layer, the second plurality of layers sequentially comprising: a third magnetic layer comprising a third fixed magnetization direction directed substantially perpendicular to a substrate surface, and a second nonmagnetic conductive layer; wherein the first ferromagnetic layer, the tunnel barrier layer, and the second ferromagnetic layer crystallize during annealing into a coherent body-centered cubic (bcc) structure with (001) plane oriented, the first magnetization direction and the second magnetization direction are directed substantially perpendicular to the substrate surface, the second magnetization direction is fixed and is directed antiparallel to the third magnetization direction, and the first magnetization direction is reversible.