A magnetic stack having a ferromagnetic free layer, a metal oxide layer that is antiferromagnetic at a first temperature and non-magnetic at a second temperature higher than the first temperature, a ferromagnetic pinned reference layer, and a non-magnetic spacer layer between the free layer and the reference layer. During a writing process, the metal oxide layer is non-magnetic. For magnetic memory cells, such as magnetic tunnel junction cells, the metal oxide layer provides reduced switching currents.