An apparatus is provided which comprises: a magnetic junction having a magnet with a first magnetization (e.g., perpendicular magnetization); a first structure adjacent to the magnetic junction, wherein the first structure comprises metal (e.g., Hf, Ta, W, Ir, Pt, Bi, Cu, Mo, Gf, Ge, Ga, or Au); an interconnect adjacent to the first structure; and a second structure adjacent to the interconnect such that the first structure and the second structure are on opposite surfaces of the interconnect, wherein the second structure comprises a magnet with a second magnetization (e.g., in-plane magnetization) substantially different from the first magnetization.