AIDS notoriety may boost Magic Johnson's stock: value of Lakers unlikely to be hurt by his retirement.

The value of Earvin "Magic" Johnson -- the $9 million a year endorsement business -- could appreciate because of his recent revelation that he has tested positive for the AIDS virus, according to sports industry experts.

And the impact of superstar Johnson's departure on the monetary value of the Los Angeles Lakers, one of the richest professional sports teams in the country, will probably be negligible at worst and could possibly be beneficial, at least in the short term, they said.

Because of the outpouring of public support since his Nov. 7 press conference, Johnson's value as a corporate spokesman could be greater because he may be more popular and well-known now than he was as a basketball superstar, the experts said.

"It would all depend on how he (Johnson) is used, but I think Nike has done a very good job with Bo Jackson (the professional football and baseball player). The (TV commercial) spots have dealt with his rehabilitation (from a career-ending injury) and what he has been doing in the meantime," said Rick Carpenter, senior vice president and creative director at the Los Angeles office of DDB Needham Worldwide advertising. "But this is a unique situation. I don't think there's a modern-day precedent for a sports hero being in Magic's situation or an advertiser having to make this kind of decision."

So far, advertisers that used Johnson as a spokesman have not dropped the athlete and Beverly Hills resident, and sales at his three Magic 32 retail stores and Magic Johnson's T's, a T-shirt company, are reportedly stronger than ever.

But how long the goodwill will last is another question.

"Advertisers would be stupid to drop him right now. I would hope it would continue because he hasn't changed as a person and he is still Magic Johnson and has a tremendous following," said Carpenter.

Some advertisers have increased their use of Johnson and have begun preparing public service announcements tied to the public concern about AIDS. Last week Converse Inc., maker of Converse sports shoes, said it will spend $1 million to sponsor a series of public service announcements on television and radio titled "Magic's Athletes Against AIDS."

The campaign will support AIDS research and education, with proceeds from the fund-raising spots directed to the Magic Johnson Foundation, which the basketball star is in the process of forming.

Johnson has been a spokesman for Converse since 1979 and his current contract runs through 1995. The company said Johnson will continue to appear in product advertising.

Officials at Pepsico Inc. and Nestle Chocolate & Confection Co., two other companies that have endorsement contracts with Johnson, said no decisions have been made on his future as a spokesman.

"We want to be able to talk about it with him personally but we haven't been able to do that yet," said a spokesman for Pepsico Inc. in Purchase, N.Y.

"We are considering many different options but I cannot be any more specific than that," said a spokeswoman for Nestle, which is also based in Purchase.

All of Johnson's off-court enterprises produce an estimated $9 million a year in revenues but they are all a result of his on-court skills and his superstar status with the Lakers, whose value has increased in recent years because of the team's winning record and players like Johnson.

One question now is whether the loss of Johnson, who also announced his retirement as a player, will affect the value of the Lakers, a franchise that has been valued at $200 million.

Michael Megna, who appraises the value of professional sports teams, doubted that Johnson's loss would have any impact on the Lakers' value.

"It's more valuable to a team to be in a big market like Los Angeles than to have any single player. The nature of the business is that players leave all the time, their careers end but the team continues to prosper," said Megna, senior vice president of American Appraisal Association in Milwaukee, Wis.

Bob Steiner, a spokesman for the Lakers, said most game tickets for the current season have been presold so the franchise has already collected most of its revenues for the season. The Lakers will honor Johnson's multi-year contract that includes an annual salary believed to be in the $2 million range, Steiner said.