[Co (t(Co)) nm/Cu 1.5 nm](50) multilayers were grown onto 15-nm Cu/polyimide buffer layers. The relationship between stress, sigma, and strain, epsilon, for the [Co 1.0 nm/Cu 1.5 nm](50) multilayers has been presented. The effects of induced strain on the magnetoresistance (MR) and magnetic anisotropy have been examined. The [Co 1.0 nm/Cu 1.5 nm](50) multilayer exhibited a maximum MR ratio of 3.4% at a Co layer thickness of 1.0 nm, beta of 0.1, and a strain of 1.5%. The multilayers exhibited a remarkable magnetic anisotropy with the easy axis of magnetization always lying in a plane perpendicular to the direction of the induced strain. (C) 2012 American Institute of Physics. [doi:10.1063/1.3671788]