Inverted tunneling magnetoresistance, where resistance decreases as the free layer in a magnetic tunnel junction flips its direction of magnetization after saturation, has been observed at zero bias in magnetic tunnel junctions with a thin CoFeB layer in the pinned synthetic antiferromagnetic CoFe/ Ru/ CoFeB stack. Magnetoresistance values as high as −55% at room temperature are measured in MgO-based tunnel junctions when the thickness of the pinned CoFeB layer is 1.5 nm. The inverted magnetoresistance is associated with imbalance of the synthetic antiferromagnetic pinned layer. Asymmetric bias dependence with a magnetoresistance sign change is observed for a 0.5 nm pinned CoFeB layer. © 2007 American Institute of Physics. ͓DOI: 10.1063/1.2779241͔MgO-based magnetic tunnel junctions ͑MTJs͒ have transformed the prospects for spin electronic devices due to their remarkably high magnetoresistance at room temperature. [1][2][3][4] Tunneling magnetoresistance ͑TMR͒, defined as ͑R AP − R P ͒ / R P , can be as large as 360% in exchangebiased MTJs ͑Ref. 5͒ and 405% in unpinned pseudospinvalve MTJs. 6 Here R P and R AP are the resistances of the tunnel junctions when the magnetizations of the ferromagnetic electrodes in contact with tunnel barrier are parallel and antiparallel, respectively. High magnetoresistance in these devices is due to the spin filter effect of the crystalline MgO barrier, which is relatively transparent for majority spin electrons injected from an oriented bcc Fe or Fe-Co electrode but attenuates minority spin electrons, as result of the different symmetries of the ↑ and ↓ wave functions. Besides high TMR values, linear and hysteresis-free switching has also been observed in MgO-based MTJs when the thickness of the free CoFeB layer is less than 1.0 nm. 7 Moreover, an interfacial resonance state located in the minority band of Fe ͑001͒, which has been probed by spin-polarized tunneling in epitaxial Fe/ MgO / Fe MTJs, causes the TMR to change sign from positive to negative above a critical voltage. 8 Here we report the observation of a high inverted magnetoresistance when the free layer in MgO-based MTJs switches at zero bias. A switch in the sign of the resistance change near zero applied field occurs as a function of the thickness of the pinned CoFeB layer next to the MgO barrier in an MTJ stack with a synthetic antiferromagnet. The effect is not found when a single pinned layer is used.MTJs with a complete layer sequence Si/ SiO 2 ͑sub-strate͒ /Ta͑5͒ /Ru͑50͒ /Ta͑5͒ /Ni 81 Fe 19 ͑5͒ /Ir 22 Mn 78 ͑10͒ /Co 90 Fe 10 ͑2͒ / Ru͑0.85͒ / CoFeB͑t͒ / MgO͑2.5͒ / CoFeB͑3͒ /Ta͑5͒ / Ru͑5͒ were grown using a Shamrock sputtering tool, where the numbers in parentheses are layer thicknesses in nanometers. The thickness ͑t͒ of the pinned CoFeB ͑Co 40 Fe 40 B 20 ͒ layer was varied from 0 to 3.0 nm. The MgO was grown in a separate zone of our sputtering system, from a target-facingtarget source. Similar MTJs with AlO x barriers were also prepared for a comparative test. Well-oriented ͑001͒ MgO barrier layers were confir...