It certainly is.

From the wiki:

"It uses ferrite magnetic-core memory in 4096 or 8192 words of 40 bits, comprising 39 bits of data with parity."

So a whooping 39kB of memory on the largest option!

"Tape is read at 500 characters per second and punched at 100 cps."

Compare that with a micro-SD...

"The bit time is 6 microseconds, jumps execute in 288 microseconds and simple arithmetic instructions in 576 microseconds."

And it run and an incredible speed of 1 to 3kHz!

(And this is overselling the computer, it was slower than what the numbers appear.)