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We investigate the tunneling magnetoresistance (TMR) of a bilayer system made of -wave magnets with , where corresponds to altermagnets. A universal analytic formula is derived for the TMR ratio. It is proportional to for small , where is the number of the nodes of the % -wave magnet, is the strength of the -wave magnet, and is the self-energy. It is contrasted with the TMR ratio made of ferromagnets, where it is proportional to for small . Therefore, the TMR ratio is larger in ferromagnets for . However, the -wave magnets are expected to achieve high-speed and ultra-dense memory owing to the zero net magnetization.

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