A simplified description of the relation between stresses, magnetoelastic anisotropy, and zerofield domain structures in amorphous metal ribbons is presented and applied to experimental observations on ribbons in various stress states. Elastic bending produces regions of uniaxial and biaxial tension and uniaxial and biaxial compression, leading to three different magnetic easy axes in different regions of the ribbon. In regions where the easy axis is normal to the ribbon plane, fine closure‐domain patterns form to reduce stray flux. Such patterns are seen in regions of biaxial compression on bent Fe81.5B14.5Si4 (positive magnetostriction) ribbons, and in regions of biaxial tension on bent Co80B20 (negative magnetostriction) ribbons. Other stress states considered are twisting, radial, balanced biaxial, shallow biaxial (from ion‐implantation), and complex residual stress patterns in ascast ribbon. Copyright © 1979 WILEY‐VCH Verlag GmbH & Co. KGaA